Ripping Off College Fraternity For Over $100K In Refinancing Proceeds On House It Owned Among Bad Acts That Leaves Businessman Facing Federal Prison Time After Guilty Plea

In Richmond, Virginia, Richmond BizSense reports:

• Already on the hook for a $6 million civil judgement, a Charlottesville businessman now faces a federal prison sentence for defrauding the widow of a Richmond investment banker, a western Virginia bank and a UVA fraternity.
  
  Victor M. Dandridge III pleaded guilty Wednesday [July 19] to three criminal charges: two counts of wire fraud and one count of bank fraud.
  
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  [I]n bilking the fraternity, Dandridge, a UVA grad, admitted to helping the organization refinance a loan on a house it owns in Charlottesville for $330,000, even though the balance on the mortgage was only $204,000. He then had the closing agent wire the difference into his personal bank account.

For the story, see Bankrupt financial advisor hit with criminal charges in Richmond.