Missouri Man Drains $373,230 in Retirement Funds From Investors, Sentenced to 48 Months Behind Bars

Federal prosecutors have sentenced a Missouri man to four years in prison after he stole more than $373,000 from clients who believed their money was going into retirement investments. Bob Hunter, 72, of Springfield, was sentenced Wednesday before U.S. District Judge Megan Blair Benton on one count of wire fraud and one count of money laundering, says the U.S. Attorney’s Office for the Western District of Missouri. Hunter presented himself as an investment advisor and sold Supplemental Executive Retirement Plans (SERPs) to local executives. “Hunter advertised SERPs to area executives to invest their money to build an investment retirement account that would be available to the investor during their retirement years.” Instead of directing the money into legitimate accounts, he spent it on personal expenses unrelated to the plans.

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