Man found shot on I-64

Richmond developer faces federal charges

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Billy G. Jefferson

RICHMOND, Va. ( – A Richmond developer arrested in April on charges of defrauding the state historic tax credit system is facing federal criminal charges related to some his local real estate projects.

Billy Gene Jefferson Jr. was charged last week with defrauding the federal historic tax credit system by allegedly overstating expenses for at least 10 of his redevelopment projects beginning in 2010. According to charges filed Dec. 9, Jefferson faces one count of major fraud against the United States and one count of engaging in unlawful monetary transactions. The charges carry a maximum fine of $1 million and up to 10 years in prison.

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