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Florida man charged with $50M+ in financial fraud
The Department of Justice has unsealed an indictment charging David John Ridling of Vero Beach, Florida, with ten counts of wire fraud, four counts of bank fraud, nine counts of money laundering, and two counts of aggravated identity theft. If convicted, Ridling faces a maximum penalty of 20 years in federal prison for each wire fraud count, 30 years in federal prison for each bank fraud count, 10 years in federal prison for each money laundering count, and a mandatory penalty of 2 years’ imprisonment for the aggravated identity theft counts.