A Perrysburg man will be serving 70 months in prison after he was sentenced Tuesday for 18 counts related
to the operation of a Ponzi scheme.
Richard C. Shade Jr., Perrysburg, was sentenced by Judge Jack Zouhary in the United States District Court
for the Northern District of Ohio.
Shade was indicted in April, 2010, on 18 counts including seven counts of wire fraud, four counts of mail
fraud, two counts of interstate transportation of stolen property, two counts of engaging in monetary
transactions in property derived from specified unlawful activities, and three counts of filing false
tax returns. He pleaded guilty in August to all counts.
Shade was the owner of Shade Tool and Die Inc., and reportedly operated an investment ponzi scheme in
which approximately 50 victims lost $3.9 million.
He was sentenced to 70 months in prison on the first 11 counts, 15 months on counts 12 and 13, and 35
months on the last three counts, all to run concurrently. Shade was also sentenced to three years
supervised release on the first 15 counts and an additional year on the final three, also to run
concurrently.
Shade is to submit restitution to the victims within 90 days, though the amount of the restitution has
not been determined.