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US judge rules against ex-Richmond developer

By WTOP Staff

LARRY O’DELL
Associated Press

RICHMOND, Va. (AP) — A federal judge has ruled against a former Richmond developer on two issues that will lengthen his prison sentence for fraudulently obtaining historic tax credits.

After an all-day hearing Tuesday, U.S. District Judge John Gibney denied Billy Gene Jefferson credit for acceptance of responsibility and found that he tried to obstruct justice. Those findings increase Jefferson’s sentencing range by as much as six years, to 11 years and three months. Sentencing is set for Sept. 23.

Jefferson pleaded guilty to fraudulently obtaining more than $12 million in state and federal tax credits, transferring a fake ID and aggravated identity theft. Prosecutors say Jefferson has hidden as much as $2.5 million that could be used to make restitution.

Jefferson claims he spent the money or lost it gambling.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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