FBI, IRS raid French office
August 5, 2010 by Aaron Kremer
Officers from the FBI and IRS raided the Shockoe Slip offices of embattled developer Justin French this morning.
The FBI’s Richmond office would not say why, only confirming that agents are there. RBS’s reporter on the scene said law enforcement entered French’s office near 13th and Cary Streets with empty boxes, presumably to gather documents. State troopers were also present.
It may have to do with French’s use of historic tax credits on his developments, which involve converting former industrial buildings into residences and selling federal tax credits to investors.
Several partners who worked with French on various aspects of the historic tax credit deals said they did not know he was under investigation.
French is not at the office.
Stay with RBS for more as this story develops.
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