DAYTON, Ohio (WDTN) – A Piqua man was sentenced to three years in prison after he was convicted of multiple felonies related to theft and fraud.

On Monday, April 10, Scott Fries was sentenced to three years in prison and ordered to pay restitution for stealing money from eight victims as well as court costs. Restitution costs come to an aggregate amount of $408,947.

This sentencing comes after Fries was indicted in November of 2021 on 44 felony counts. In October 2022 he pleaded no contest and was found guilty of 16 felony charges including securities fraud, deceptive conduct, grand theft and engaging in a pattern of corrupt activity.

According to the release, Fries told multiple victims that he would place their funds in an investment account. Instead, he placed the funds into his personal accounts and used the money for personal expenses and to pay a prior investor. This scheme ran from March 2014 until June 2020.