When questioned by authorities, Harding allegedly made misleading statements about the purpose of the loan and the use of the funds. The former lawmaker had initially pleaded not guilty to the charges.
However, on Tuesday afternoon, he appeared in court where he pleaded guilty to the charges against him. He now faces a maximum sentence of 35 years in federal prison, although his sentence is expected to be significantly shorter.
Harding’s downfall is a stark reminder of the potential consequences of committing fraud, particularly in the midst of a global pandemic. The COVID-19 pandemic has caused widespread economic damage, and the US government has offered a number of relief packages to help struggling individuals and businesses.
