CHARLOTTESVILLE, Va. (AP) -- A Virginia man has been indicted on fraud and money laundering charges.

Federal prosecutors said Thursday that 59-year-old Michael Wayne Harding of Albemarle County has been charged with mortgage fraud, money laundering and bankruptcy fraud.

According to an indictment, Harding is alleged to have 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.

It also is alleged that after filing for bankruptcy, Harding filed false reports and failed to deposit all income into a required account.

If convicted on all seven counts, he faces up to 115 years in prison and/or fines up to $3.75 million.

A phone message left by The Associated Press at Harding's business was not immediately returned.