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Ex-broker ordered to repay $22,642

An Allen Superior Court judge sentenced a former investment broker to a suspended prison sentence, and ordered him to pay $22,642 in restitution.

Randy Ridenour, 49, of the 9500 block of Yellow River Road, pleaded guilty in November to a single charge of securities fraud. He 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.

Allen Superior Court Judge Fran Gull accepted the terms of the plea agreement Ridenour reached with Allen County prosecutors and sentenced him to four years in prison, but ordered the sentence suspended and to be served on probation.