Vero Beach Man, David John Ridling Sentenced To 15 Years In Federal Prison For More Than $40 Million In Fraud
Orlando, FL (STL.News) U.S. District Judge Paul G. Byron has sentenced David John Ridling (58, Vero Beach) to 15 years in federal prison for devising and executing a fraud scheme that resulted in the loss of more than $40 million. Ridling had pleaded guilty on October 20, 2020.
According to court documents, Ridling is a farmer. Over the course of three years, Ridling attempted to defraud five financial institutions, one financial services provider, and one local Orlando business out of over $50 million. Ridling’s scheme involved the use of false brokerage account statements, fabricated tax returns, and false financial statements to obtain loans and lines of credit.
As part of his scheme, Ridling falsely claimed that three individuals were his account representatives at a financial brokerage company and set up fake email accounts for two of those individuals without their consent or knowledge. Assuming the identities of those two individuals, Ridling sent emails from the fake email accounts in an effort to convince lenders that he had millions of dollars in his two brokerage accounts.