Convicted financial adviser had guns

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FARGO, N.D. – A Fargo financial adviser convicted last year of selling unregistered securities and acting as an unregistered agent faces new charges after the execution of a search warrant at his business.

Authorities serving the warrant discovered five guns at Bruce Hager’s business, which is a violation of his probation.

Hager was arrested Friday and was charged in Cass County District Court with a felony count of owning or possessing firearms after a felony conviction.

He is expected to appear on the new charge this afternoon.

Prosecutors have also filed a petition to revoke Hager’s probation, alleging that he possessed firearms and has committed a new offense of acting as an unregistered agent.

Hager is serving 10 years of supervised probation following guilty pleas in October 2007 to eight charges related to unregistered securities. The charges were originally felonies, but had been reduced to misdemeanors.

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