https://www.ky3.com/2026/06/11/springfield-investment-professional-pleads-guilty-wire-fraud-money-laundering/

A Springfield man pleaded guilty in federal court Wednesday to wire fraud and money laundering involving fraudulent embezzlement of his clients’ retirement funds.

Bob Hunter, 72, pleaded guilty before U.S. Magistrate Judge David P. Rush to one count of wire fraud and one count of money laundering.

According to the plea agreement, Hunter worked as an investment and retirement professional in the Springfield area and promoted various retirement programs, including Supplemental Executive Retirement Plans. Hunter promoted the use and administration of SERPs to area executives who could invest their money to build an investment retirement account that would be available during their retirement years.

Instead of using the money he received from his clients to invest in their individual retirement accounts, Hunter used the money for his own personal expenses.

Clients misled with false reports

In total, Hunter embezzled $373,230.50 in intended retirement funds from his clients. Hunter’s clients only became aware of his fraud after realizing that he was misleading them with false investment reports that claimed they had money in their investment accounts that never existed.

The false reports, known as “lulling” letters or documents, significantly delayed investors from reporting the fraud to law enforcement and attempted to conceal the nature and scope of Hunter’s embezzlement.

Sentencing

Hunter is subject to sentences of up to 20 years in federal prison without parole and a maximum fine of $250,000 for wire fraud, and up to 10 years in federal prison without parole and a maximum fine of $250,000 for money laundering.

A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.

The case is being prosecuted by Assistant U.S. Attorney Patrick Carney. It was investigated by the IRS Criminal Investigation division and the FBI.