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.

Local finance manager sentenced for fraud

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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.

Bank is left with a high-dollar whodunit

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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

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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.

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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.

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

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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

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In a swing of momentum following bankruptcy and foreclosure, a local golf course has been snatched up by a prominent area real estate developer.