Developer Evading Federal Income Taxes

Tax EvasionA former Albemarle County developer faces up to five years in prison for evading federal income taxes. The Daily Progress reports that Michael Wayne Harding pleaded guilty Monday in federal court to underreporting his income and avoiding about $87,000 in federal taxes. Harding had pleaded guilty in March to two fraud-related counts. He faces up to 25 years in prison on these charges. Sentencing on all three charges is scheduled for September. Prosecutors say Harding secured mortgages by faking improvements made to properties owned by his company. He then had checks from the mortgage companies converted for his personal use. The money wasn’t reported in his 2007 tax return.