By David Larter
RICHMOND, Va. (RichmondBizSense.com) – A developer arrested for allegedly forging tax credit documents is facing a minimum of 16 years in prison if convicted on all counts.
Billy G. Jefferson Jr., the head of River City Real Estate, faces eight counts of forgery. Each count carries a two-year minimum and 10-year maximum sentence, meaning he could face up to 80 years if convicted.
Jefferson’s charges stem from documents submitted to the Department of Historic Resources in a bid to get tax credits on four rehabbed buildings, according to a statement released Thursday by the agency.