As he sits in federal prison in West Virginia, another lender is foreclosing on yet another property owned by former Richmond developer Justin French. Virginia Commonwealth Bank is foreclosing on 2601 Floyd Ave., an historic building in the Fan for which French received a $439,000 tax credit in 2008. The 7,200 square foot building sits… Read more »
Justin French
Justin French’s other scam?
Abusing historic tax credits wasn’t the only scheme developer Justin French might have had his sleeve.
The Justin French saga ends
The formerly high-flying developer is sentenced for a massive real estate tax credit fraud, and the judge does not go easy on him.
French bankruptcy approved
A U.S. bankruptcy judge has approved the involuntary bankruptcy petition against fallen developer Justin French.
Paragon Commercial Bank wades further into French’s wake
One of Justin French’s former banks is pressing hard to make sure they are first in line for repayment, this time asking the bankruptcy court to appoint a trustee — and fast.
Banks try to force French into Chapter 7
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.
Restoring faith after French
We’ll know soon enough how long Justin French will spend in prison — what’s less clear is how long it will take Richmond to clean up his mess. For now, the state Department of Historic Resources is taking steps to prevent future abuse of its tax credit program.
French pleads guilty to fraud
Developer Justin French’s downward spiral finds him facing up to three decades in prison for abusing state and federal tax credit programs.
Banks go after one another in French fiasco
Two more Virginia banks are trying to recover millions squandered on incomplete historic renovations by Justin French. Only this time the banks didn’t lend directly to French.
Property snatched up at French auction
The foreclosure auction of a prime piece of Shockoe Slip real estate drew a large crowd of spectators and prospective bidders Friday morning, but there was only one winner. And it wasn’t the bank.