RICHMOND, Va. (WRIC) — A Virginia businessman who fraudulently took $3.2 million from the widow and children of a friend was sentenced Thursday to seven years in prison.
Victor M. Dandridge, III who lives in Charlottesville, was also sentenced in connection to two other fraud schemes that date back as far as 2006.
He previously pled guilty to all charges back in July.
In a statement, prosecutors said that Dandridge offered to handle the finances of his best friend’s widow and her children after he passed away in 2006. In the following 10 years, prosecutors say he diverted most of their money into the bank accounts of businesses he owned and managed, often using the money for personal expenses and to prop up his failing businesses.
The Associated Press reports that Dandridge says he believed he would be able to pay the money back.
Prosecutors say Dandridge also defrauded money from Blue Ridge Bank and the Virginia Omicron Chapter House Association.
In addition to his prison sentence, Dandridge was also ordered to forfeit $3.5 million in restitution to his victims.