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Former Iowa businessman sentenced for wire fraud

CORAVILLE, Iowa (AP) - The former vice president of a boat distributor in eastern Iowa has been given prison time and six months of home confinement in connection with several counts of wire fraud.

Corey Hagen was sentenced Friday to two months of prison and three years of supervised release. He also has been ordered to pay $150,000 in restitution.

Hagan pleaded guilty in March to five counts of wire fraud as part of a plea agreement. Prosecutors say he directed customers to wire money directly into his personal account instead of International Marine Distributors, LLC. He was in charge of day-to-day operations for the company, which collapsed in early 2006.

An attorney for Hagan did not immediately return a message Monday.

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