DAVENPORT, IA - On January 4, 2013, Corey David Hagen, age 46, was sentenced to two months of imprisonment followed by six months of home confinement for committing wire fraud, announced United States Attorney Nicholas A. Klinefeldt. Chief United States District Judge James E. Gritzner also sentenced Hagen to three years of supervised release and ordered him to pay $150,000 in restitution to the victim.
While selling boats for International Marine Distributors, LLC, Hagen directed customers to wire money directly into his personal account instead of into the IMD corporate account. Hagen did not pass these funds on to the company and used them for personal expenditures. Hagen also invested $125,000 in a new business venture and falsely represented that the funds were his personal funds when in actuality the money belonged to IMD.
This case was investigated by the Coralville, Iowa, Police Department, and was prosecuted by the United States Attorney’s Office for the Southern District of Iowa.
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Source: U.S. Department of Justice, Office of the United States Attorneys
