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.

Union wants homebuilder to pay up

Union First Market Bank filed suit last week in Chesterfield County Circuit Court in an attempt to recoup $5.5 million from a Midlothian-based homebuilder.

Trading Day: Inside the SEC filings of local public companies for 8.19.10

John Nelson, Altria’s chief technology officer, exercises options to acquire more than $2.5 million in stock. Meanwhile, the parent of Village Bank says it is unable to file its financial report for the second quarter in time to meet the deadline set by the SEC.

More culprits yet to surface in Ponzi scheme?

The lawyer representing a local man named in Ponzi scheme lawsuits filed by federal authorities in Florida says there’s more to the story. Chris Bruno, an attorney in Northern Virginia who is defending Richmond businessman William Center, said Center has agreed to cooperate with authorities in recovering the money that was collected in the scheme…. Read more »

Ponzi scheme’s Richmond ties

The attorney working to recover funds from a $28 million Ponzi scheme says there are people and entities in Richmond and that may have profited from the alleged fraud.

Richmond man named in $28M Ponzi scheme

A Richmond man allegedly helped run a $28 million Ponzi scheme that was uncovered in June, according to two regulatory agencies and civil suits filed in Florida.

Will investors love LucyPhone?

A local startup wants to rescue consumers from the pain of hearing the dreaded words “a representative will assist you shortly.” And the two brothers behind it are trying to raise $1 million in VC.

“We don’t want the land; We don’t want the houses.”

Two local banks are getting more pro-active to unload the property they have taken in foreclosure – property they don’t really want to own. And they’re willing to offer favorable financing to buyers.

Body blow for PE fund

A Richmond-based private equity fund lost more than half its value when a Florida bank hit the skids. But the fund’s managers and at least one investor remain hopeful that other investments will more than recoup those losses.