RICHMOND, Va. (RichmondBizSense.com) – A local developer and prominent Fan District landlord was formally indicted Tuesday, more than four months after his arrest on charges of cheating Virginia’s historic tax credit system.
A grand jury indicted Billy G. Jefferson Jr. on two counts of forging and uttering public records. A trial is slated for Nov. 15.
Jefferson, head of Historic Property Management (formerly River City Real Estate), is accused of gaming the state’s historic tax credit system by submitting falsified reports to the Virginia Department of Historic Resources in February of last year. When he was arrested in April, police said his misrepresentations amounted to “over $2 million in tax fraud.”