CHARLOTTSVILLE, Virginia — A former Albemarle County developer has been sentenced to 2 ½ years in prison after pleading guilty to federal fraud charges.
Prosecutors say Michael Wayne Harding was sentenced Monday in U.S. District Court in Charlottesville. The 59-year-old from Keswick previously had pleaded guilty to wire fraud and bankruptcy fraud.
Harding also was ordered to pay more than $2 million in restitution.
According to a statement of facts, Harding secured mortgages by faking improvements made to properties owned by his company. Harding then had checks from the mortgage companies converted for his own personal use. Harding also admitted that after filing for bankruptcy, he filed false reports and failed to deposit all income into a required account.