Corvallis, Oregon – Erik J. Hass, 53, is trading pews for prison bars after being sentenced to 30 months in federal lockup for running a brazen fraud scheme that preyed on the generosity of his community. Hass founded Simply Gains, Inc. in 2013, falsely promising investors that their money would support Christian missionaries and charitable organizations. Instead, he used the funds to line his own pockets.
The con man pitched Simply Gains to members of his church, coworkers, and acquaintances, dangling the lure of hefty returns – up to 30% compounded annually. For years, Hass kept the scam afloat by sending fabricated account statements and bogus tax forms, masking the fact that investor money was vanishing into a black hole of personal expenses. The scheme ultimately unraveled, leaving over 20 victims collectively robbed of more than $1.75 million.
Federal prosecutors secured a guilty plea from Hass on five counts of wire fraud and two counts of mail fraud in February 2023, following an indictment handed down in June 2020. The feds weren’t buying Hass’s pious facade. Beyond the prison sentence, Hass is now on the hook to repay the full $1.75 million in restitution, a tall order considering the likely depletion of assets.
The investigation, a joint effort between the FBI and the Oregon Division of Financial Regulation, revealed a calculated scheme designed to exploit the trust within the Christian community. Hass specifically targeted individuals known for their charitable giving, leveraging their faith to fuel his greed. He presented himself as a pillar of the community, a trustworthy figure dedicated to a noble cause – a carefully crafted persona designed to disarm potential victims.
This wasn’t a spur-of-the-moment decision. Hass meticulously established Simply Gains, Inc. as a vehicle for his deception. The organization existed solely to funnel money from unsuspecting investors into his personal accounts. The case highlights the vulnerability of even the most generous individuals to well-executed financial schemes, and the importance of rigorous due diligence.
While this case has reached a conclusion, authorities warn that investment fraud remains a pervasive threat. The Oregon Division of Financial Regulation urges anyone considering an investment to verify the legitimacy of the organization and its representatives, scrutinize promises of high returns, and report any suspicious activity immediately. Don’t let faith – or a desire for profit – cloud your judgment. If it sounds too good to be true, it almost certainly is.
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- Category: White Collar Crime
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