Law

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.

French: ‘I was not told why they went in’

Developer Justin French said Friday that he was not told why FBI and IRS agents raided his Shockoe Slip office Thursday. He also said he’s done nothing wrong.

The most pro-business legislator?

State Sen. John Watkins is the most business-friendly lawmaker in Central Virginia, according to Virginia FREE.

Local firm lands BP claims work

At least a small chunk of the billions of dollars BP has set aside to pay claims for the gulf oil spill will make its way to Richmond.

End of the road for a conman

Edward Okun, president of the now-defunct 1031 Tax Group, is going to spend the rest of his life in prison; or at least the next 100 years of it.

Legislators have their hands out

Richmond’s congressional delegation has submitted earmark requests for more than $105 million in federal funding for projects in the metro region for fiscal 2010. The projects run the gamut from local hospitals to economic development.

Ponzi trial with a twist

As far as alleged Ponzi schemers go, Darrell and Cynthia Underwood were almost monastic in their spending. Under the name Walkwood Properties, which had offices in Midlothian, the Underwoods promised investors 50 percent returns within 60 to 120 days, according to the indictment. In one of many strange twists, dozens of “investors” cashed out with large gains.