A former banking executive found guilty of...

A former banking executive found guilty of defrauding one of his company’s subsidiary banks was sentenced to three years in prison and fined $5,000. U.S. District Judge Anna Diggs Taylor set a $15,000 personal bond for former Michigan National Corp. Chairman Stanford Stoddard, 56, who was convicted Aug. 10 by a federal jury on one count of misapplying $175,000 in the sale and lease-back of an office building. “I’m innocent of the charges. I was the first day, I will be the last day,” Stoddard told reporters after the sentencing.