Even one of Richmond’s most prominent families could not sustain a lifestyle that was running a $20,000 deficit every month.
A U.S. bankruptcy judge has approved the involuntary bankruptcy petition against fallen developer Justin French.
Two local financial firms and their CEO are named in a civil suit filed by the SEC for running an alleged $7.7 million Ponzi scheme.
Plus the first details come out of what assets French might have, and they include $25,000 from a Las Vegas casino.
Julius Everett “Bud” Johnson pleaded guilty in federal court in a suit that charged him with conspiracy to commit mail, wire and bank fraud, and engaging in unlawful monetary transactions.
The former head of one of Richmond’s old guard investment banking firms has filed Chapter 11 bankruptcy, listing millions in debts to creditors that include local banks and some friends.
A Richmond businessman, his associate and several locally-based companies have been fined $37.4 million by the State Corporation Commission for violating Virginia securities laws.
Paragon Commercial Bank, Franklin Federal Savings Bank and Citizens Bank & Trust have petitioned the U.S. Bankruptcy Court in Richmond to place the formerly high-flying developer into bankruptcy.
The city of Richmond is one step closer to offering new financial assistance to private firms doing work in blighted neighborhoods.
CHIP of Greater Richmond has merged with Family Lifeline, creating an abuse-prevention and health services organization with 40 employees and a combined annual budget of $3.5 million.