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Former Grain Trader Pleads Guilty

Hunter Hanson, 22, faces up to 8 years in prison for wire fraud, money laundering scheme

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Hunter Hanson told U.S. District Judge Daniel Hovland he “got overwhelmed” in his grain trading business, leading to a situation in which he defrauded at least 60 farmers, grain elevators and grain brokers in North Dakota, Minnesota and Canada for more than $11 million, reports the Grand Forks Herald.

Hanson, 22, on Tuesday, July 30, at the William L. Guy Federal Building pleaded guilty to federal charges of wire fraud and money laundering.

While each charge carries a maximum penalty of 20 years in prison, Assistant U.S. Attorney Jonathan O’Konek said the federal sentencing guideline range in the case calls for a sentence of 78 to 97 months, six and a half to just over eight years in prison.

Hanson also agreed to pay restitution in the amount of $11,405,134.72.

Read the full report here.

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