The sentence was issued by U.S. District Court Judge Kenneth Karas in White Plains, N.Y.

Montgomery, who won a gold medal in the 400 relay at the 2000 Olympics and a silver medal in the 400 relay at the 1996 Olympics, entered a guilty plea April 2007 to bank fraud and conspiracy to commit bank fraud charges.

"I am very troubled that up until today he has not accepted responsibility," The (Norfolk, Va.) Virginian-Pilot reported Karas saying in court at sentencing.

Also involved in the scheme was former women's gold medal sprinter Marion Jones, who is serving a six-month prison sentence after admitting she used performance-enhancing drugs.

Montgomery and Jones -- who were once called the fastest humans in their respective genders -- have been stripped of their gold medals.

Montgomery faces unrelated heroin distribution charges.