Derek Robert Hamm

A Tyler man has been indicted on more than 30 federal charges, accused of falsely presenting himself as a wealthy war hero to defraud investors.

Derek Robert Hamm, 38, was named in a 33-count indictment returned by a federal grand jury in Tyler that includes charges of wire fraud, money laundering, violations of the Stolen Valor Act, using a fake military discharge certificate and being a felon in possession of guns and ammunition, the Eastern District of Texas U.S. Attorney’s Office said Thursday in a statement.

The Stolen Valor Act makes it illegal to fraudulently wear medals, embellish rank or make false claims of military service for financial or other gains.

According to the indictment, Hamm portrayed a former member of the Army Special Forces who had served multiple tours in Iraq, Afghanistan and other countries. He claimed to have been awarded the Purple Heart, A Silver Star and a Bronze Star for his service. However, Hamm not received any of the awards.

Hamm also claimed to be related to Harold Hamm, a billionaire oilman in Oklahoma, which he said gave him access to financial resources and oil industry expertise, according to the statement.

Hamm used his persona of being a wealthy war hero to create an extensive network of friends who introduced him to potential investors, according to the statement. Hamm then defrauded the investors in schemes related to the oil and gas industry.

Instead of investing the funds as promised, Hamm spent investors’ money on personal gifts, including nearly $500,000 on jewelry and vehicles for him and his family, according to the Eastern District of Texas U.S. Attorney’s Office.

The indictment claims Hamm illegally had guns and ammunition. Hamm, it says, was convicted in 2020 in Smith County for theft of property, which is a state jail felony. He was also convicted of misdemeanor assault of a family member in 2005. The convictions prohibit Hamm from possession firearms.

If convicted, Hamm faces up to 20 years in federal prison.

The Eastern District of Texas U.S. Attorney’s Office asks anyone who might have been a victim of Hamm to contact the FBI at (903) 594-3503.

The case is being investigated by the FBI’s Tyler Field Office with assistance from Tyler police, the Smith County Sheriff’s Office and many other agencies.