The owner of Philadelphia Pension Planning Corp., formerly located in Montgomery County, Pa., was sentenced to 15 months in prison and three years of supervised release, and ordered to pay $715,228.79 to the Bustleton Landscaping Co. Inc. Profit Sharing Plan for making a false statement in the Form 5500 annual report.

Charleen Ryan of Pomaria, S.C., pleaded guilty on July 29 to making a false statement. As part of her plea, she admitted that she prepared, executed and authorized the Form 5500 for the Bustleton Landscaping Co. Inc. Profit Sharing Plan for plan year 2003. Ryan falsely stated in the Form 5500 that the plan held $797,373 in assets at the beginning of plan year 2003 when the plan held significantly less than that amount due to losses that Ryan knowingly concealed.

Ryan was sentenced in the U.S. District Court for the Eastern District of Pennsylvania in Philadelphia.