The Region - News from April 21, 1987

The former co-owner of a national tele-marketing firm was sentenced to four years in prison for his role in bilking an estimated 3,000 investors out of $25 million in worthless oil exploration leases. Terry Risenhoover, 41, an Oklahoma resident formerly of Malibu, was also ordered by U.S. District Judge Ferdinand Fernandez to pay about $18,000 in restitution to investors who paid large sums for land that federal prosecutors say was inaccessible and in some cases worth only about $1 an acre. Risenhoover’s business partner, David Kane, was ordered to pay $1 million restitution in connection with his guilty plea.