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Courts

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Suspended sentence for securities fraud

A Fort Wayne man pleaded guilty to committing securities fraud last week in Allen Superior Court.

Randy Ridenour, 49, of the 9500 block of Yellow River Road, was charged in March with the crime, accused of bilking a single investor out of $34,342. He was also charged with theft.

According to court documents, Ridenour sold a fraudulent investment to Randall Striggle between January and December 2009.

Ridenour told Striggle he had an investment opportunity that would pay a 23 percent annual return over a two-year period, with monthly dividend payments of $1,000.

Striggle removed $37,342 from an investment account with a brokerage firm and gave it to Ridenour to invest.

Under the terms of a plea agreement entered Nov. 16, Ridenour will be given a suspended four-year prison sentence and ordered to pay $22,642 in restitution. The charge of theft will be dismissed, according to court documents.

rgreen@jg.net

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