Vorce sentenced to 12 years in federal prison
Thu, Oct 29, 2009
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GRAND RAPIDS A 32-year-old Grand Rapids man convicted of bilking millions of dollars from local banks will spend the next 12 years in a federal prison.
Michael Vorce was led out of a Grand Rapids federal courtroom in handcuffs after being sentenced by U.S. District Judge Robert Holmes Bell this morning, WZZM-TV reported.
Vorce has been in federal custody since August 2008. Prosecutors said Vorce used fake titles to boats in order to get loans from banks to pay for his lavish lifestyle. Those banks included Macatawa Bank.
Vorce formerly leased and operated The Wharf Marina in Grand Haven.
Earlier this year, Vorce pleaded guilty to bank fraud and money laundering. He admitted to failing to report more than $11.3 million in income in 2006.
He faced up to 30 years in prison.
WZZM-TV and The Associated Press contributed to this report.