A former Ridgway resident who was indicted by a statewide grand jury for alleged financial crimes has pleaded guilty in the case, in an agreement that will allow him to avoid incarceration.

Shawn King appeared in court in Montrose on Feb. 13 and agreed to plead guilty to tax fraud and securities fraud, in addition to paying $50,000 initial restitution to victims.

King, 46, was indicted on seven counts of alleged securities fraud and four counts of tax evasion after the state received complaints ab...