BANK FRAUD: Metro Developer Sentenced
A metro developer involved in a fraud scheme found out Wednesday how much time he’ll spend in prison.
Randy Walters was sentenced in federal court to one year in prison. He was also sentenced to five years of supervised release and $500,000 in restitution.
Walters took a plea deal, admitting he helped divert around $4 million from development projects to pay for unrelated expenses.
Walters’ partner, John Kline, has also taken a plea deal on two counts of bank fraud. He’ll hear his sentencing in April.