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State charges against Richmond developer dismissed

Thursday - 1/16/2014, 12:28pm  ET

RICHMOND, Va. (AP) -- A Richmond developer convicted of federal fraud charges no longer faces related state charges.

The Richmond Times-Dispatch (http://bit.ly/KkY1Cl ) reports that state tax fraud charges against Billy Gene Jefferson Jr. were dismissed Wednesday because of the federal case.

Jefferson pleaded guilty in December to federal charges of committing major fraud against the United States and engaging in illegal monetary transactions. He faces up to 20 years when sentenced on April 8.

Federal prosecutors say the 52-year-old Jefferson fraudulently obtained millions of dollars in tax credits for renovations of historic properties.

The federal plea agreement requires Jefferson to make restitution of nearly $13 million.

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Information from: Richmond Times-Dispatch, http://www.timesdispatch.com


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