A Missouri Man has been indicted on a cattle-investment scheme that defrauded 89 investors out of $4.7 million dollars. Cameron Hager of Clinton, Missouri, was charged with a nine-count federal indictment that alleges he persuaded investors to put money into a cattle fund that he said would be used to buy cattle and sell them later at a substantial profit. Hager operated the scheme from July of 2015 to March of 2018.
Court documents say he never purchased any animals and never intended to. He received roughly $4.7 million from investors, who gave amounts ranging from $1,000 to $267,000. Hager also roped in others to recruit investors and paid their commissions from the investment money he received. He also used some of the funds for personal expenses, like mortgage payments, paying taxes, and travel expenses. He also used some funds to provide “returns” to other investors.