Former El Dorado Springs pastor pleads guilty in nearly $9.4 million federal fraud case

From the El Dorado Springs Newsroom

A Butler man with ties to El Dorado Springs has pleaded guilty to four federal charges in a multimillion-dollar fraud case involving cattle investments, bank loans, stock trading and the unauthorized use of other people’s identities.

Craig Johnson, 45, pleaded guilty before U.S. District Judge Fernando J. Gaitan Jr. to wire fraud, bank fraud, aggravated identity theft and making a false statement to a financial institution, according to the U.S. Attorney’s Office for the Western District of Missouri.

The case is directly connected to El Dorado Springs. Federal prosecutors said Johnson served as a pastor at a church in the community while he was also employed by Community First Bank. He remained in the pastoral position until his removal in 2025.

According to information presented in federal court, Community First Bank hired Johnson in 2022 as a vice president and loan officer.

Federal prosecutors said Johnson began seeking money from individuals by at least 2024 for what were presented as cattle investments. The arrangements varied, but generally involved money being provided to Johnson to purchase cattle that would be resold within a relatively short period for a profit.

Some individuals obtained loans through Community First Bank with Johnson serving as the loan officer, according to federal prosecutors. The proceeds were then provided to Johnson. Prosecutors said Johnson did not disclose to the bank that he would personally benefit from the loan proceeds.

Instead of using the money for the proposed cattle transactions, prosecutors said Johnson placed victims’ money into his personal investment account and traded in high-risk small-cap and micro-cap stocks. The government said those investments ultimately resulted in the loss of the funds.

Court information shows Johnson acted as loan officer on approximately 29 loans and lines of credit through Community First Bank totaling approximately $4.48 million.

Federal authorities said money obtained from some victims was also used to make payments to earlier investors as Johnson continued and concealed the scheme.

The government’s case extends beyond the cattle investments.

Between April 2024 and Johnson’s termination from Community First Bank in February 2026, prosecutors said Johnson used his banking position, his standing in the community or both to defraud individuals and a financial institution of at least $9,395,882.22.

Federal prosecutors also said Johnson used other people’s identities to obtain loans.

In February 2026, at least three loans were created in the names of individuals who did not know about or approve the transactions, according to information presented in court. Prosecutors said those loans were used to pay other loans Johnson previously created in another person’s name.

Federal authorities detailed three additional loans totaling more than $3.6 million that were represented as being connected to cattle purchases.

In August 2024, Johnson applied for a loan of approximately $1.45 million through a financial institution in Jefferson City. According to prosecutors, the stated purposes were to refinance two existing loans and purchase cow-calf pairs.

After the existing debts were paid, approximately $1.2 million in proceeds was provided to Johnson for the expected purchase of 400 head of cattle.

Prosecutors said the large cattle purchase did not occur. Instead, the money was used to repay investors and cover personal expenses.

Another $1.5 million loan followed in August 2025. Loan documents indicated the money was intended to purchase 550 cow-calf pairs. Federal prosecutors said Johnson subsequently transferred $1.45 million into his investment account.

Later that month, Johnson obtained another loan, with $900,000 in proceeds designated for the purchase of 300 cow-calf pairs. Prosecutors said the $900,000 was instead transferred into Johnson’s personal investment account.

Federal investigators also examined a bill of sale dated Aug. 30, 2025, that appeared to document Johnson’s purchase of 850 cow-calf pairs for $2.825 million from a livestock company in Evanston, Utah.

According to the U.S. Attorney’s Office, the livestock company did not make that sale to Johnson. The company’s owner told investigators that although his name appeared on the document, the signature was not his.

Federal prosecutors said the combined $3.6 million from the three loans was not used to purchase the cattle described in the loan documents. Instead, the government said the money went to Johnson’s investment account and toward payments to previous victims.

Johnson now awaits sentencing.

Under federal law, wire fraud carries a maximum penalty of 20 years in prison. Bank fraud and making a false statement to a financial institution each carry maximum penalties of 30 years. Aggravated identity theft carries a mandatory two-year prison sentence that must run consecutively to any other sentence imposed.

Those penalties are statutory maximums and do not represent the sentence Johnson will necessarily receive. His sentence will be determined by the federal court after consideration of sentencing guidelines and other statutory factors.

A sentencing hearing will be scheduled following completion of a presentence investigation by the U.S. Probation Office.

Assistant U.S. Attorney Paul S. Becker is prosecuting the case. The FBI investigated.

For El Dorado Springs readers, the federal case has an unmistakable local connection. During a portion of the period examined by federal investigators, Johnson held two positions associated with significant public trust — working as a bank vice president and loan officer while also serving as a pastor in the El Dorado Springs community.

He now awaits sentencing in federal court after pleading guilty to four federal crimes in a case involving nearly $9.4 million.

Sources: U.S. Attorney’s Office, Western District of Missouri; U.S. District Court information; El Dorado Springs Sun archives.