Former White Sands owner James M. Dwyer was charged with $36 million in bank fraud on Tuesday.

The prominent Ocean City, New Jersey developer was charged with eight fraud counts in an indictment detailing at least a dozen loans in several states, according to a March 24 report in the Philadelphia Inquirer newspaper.

If convicted, Dwyer could face up to 30 years in prison and a fine of more than $1 million.

Dwyer, 61, of Petersburg, New Jersey was last year indicted on a single fraud charge relating to a $16 million loan. He pleaded not guilty, posted a $250,000 bond and was released. He is scheduled to be re-arraigned today, before a US District Judge in Camden, New Jersey.

The superseding indictment has eight new fraud counts. Dwyer's lawyer told The Philadelphia Inquirer he could not comment on the superseding indictment because he had not seen it.

The government alleged Dwyer had provided false documents to banks to secure loans on several properties, including faked opinion letters from an accounting firm. Federal authorities claimed banks in Philadelphia and South Jersey were prime victims.

Authorities also said Dwyer submitted false tax returns for 1996, 1997 and 1998.

Dwyer owned the White Sands property in Paget from 1998-2002.