Former River City Real Estate landlord sentenced to 20 years
Richmond developer Billy G. Jefferson Jr. was sentenced to 20 years in federal prison today.
The sentence was handed down by Judge John A. Gibney and brings an end to a 17-month saga that began with Jefferson’s 2013 arrest on state charges for a historic tax credit scam. The case then led to federal charges, the discovery of high-rolling Las Vegas gambling trips, an alleged cash-stuffed PVC pipe, an aborted charter flight to England under a fake identity and a marriage from behind bars.
Jefferson, who had been a prominent local landlord with hundreds of apartments in the Fan, Museum District and Manchester, pleaded guilty in December to major fraud against the United States and engaging in unlawful monetary transaction related to a historic tax credit scam tied to a slew of apartment rehab projects around Richmond.
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