A Richmond finance manager and former restaurateur was sentenced in federal court Friday to 18 months for defrauding his rock star client and was ordered to pay $1.25 million in restitution.
Local finance manager sentenced for fraud
Michael Schwartz
Michael Schwartz is the editor of Richmond BizSense, and covers banking, lawsuits, finance, M&A and golf. He can be reached at [email protected] or 804-855-1037.
Bank is left with a high-dollar whodunit
Although it managed to work a deal to avoid a dividend rate hike on its former TARP shares, a local bank wasn’t able to solve an 18-month-old mystery.
Trading Day: Local SEC filings for 1.16.14
A local CEO cashes out on $17M in stock options. A downtown firm brings in a big gun from South America to lead a new program. And an IPO-hungry local REIT continues its acquisition spree.
Scores of Innsbrook layoffs slated for Feb.
A once fast-growing company in Innsbrook cut dozens of workers in late 2013 and has plans to lay off almost four-dozen more in February.
Wisconsin bank pours into local market
Another out-of-town bank has made 2014 the year for expansion into Richmond.
Trading Day: Local SEC filings for 1.9.14
Star Scientific’s embattled former CEO cuts a deal to loan the company money. Plus plenty of insiders trading shares this week.
N.C. bank plants its flag in Richmond
Armed with an experienced team lured from a local competitor, a North Carolina-based bank is making its first push into Richmond.
After tough year, golf course sees the light
In a swing of momentum following bankruptcy and foreclosure, a local golf course has been snatched up by a prominent area real estate developer.
Union seals deal to become $7 billion bank
The new year is starting out with a bang for the local banking industry.
Firm’s pitch comes through loud and clear
Two capital raises in the past six months have an upstart local biotech firm feeling flush.