Virginia Business – Page 5

Northern Neck man pleads guilty to $2.4 million in bank fraud at Primis

28Feb

By watchfuleyeNo Comments

News, Trending

Northern Neck man pleads guilty to $2.4 million in bank fraud at Primis

James Stevens, a former Primis employee, is facing a sentence of up to 30 years in federal prison after pleading guilty to bank fraud. The 46-year-old man from Weems worked for the bank from 2002 to 2023, although, over that period, the bank was sold several times and operated under different names. According Stevens' own admission in federal court documents, from about 2008 up until his departure from Primis in 2023, he was exploiting his position to get money for himself, for others, and to pay fraudulent loans he was making at the bank. Stevens last position at the bank was as commericial lender. His “primary method” of fraud was issuing loans in other people’s names, the court documents state. For example, he admitted that he originated at least $530,000 in loans in the nam...

Virginia lawmakers vote to make cocktails to go permanent

Lawmakers in both houses have decided Virginia should keep the ability to sell cocktails to go. During the pandemic, Virginia was one the states that allowed the sale of cocktails to go on a temporary basis to help businesses survive through struggling times. As it stands, that ability will expire on July 1, 2024. House Bill 688, patroned by Delegate Jay Leftwich, and Senate Bill 635, patroned by Senator Aaron Rouse, repeal the sunset date. And the bills give properly licensed distillers, restaurants, and farm wineries a permanent ability to sell mixed beverages and pre-mixed wine for off-premises consumption. The final vote in the House received overwhelming support with an 81-18 vote. In the Senate, the vote in favor was unanimous. Although the bill still has to be signed int...

Plans for $2 bn Alexandria Entertainment District unveiled

Plans are in the works to develop a 9 million sq. ft. entertainment district at Potomac Yard in Alexandria. The project is a public-private partnership between the City of Alexandria, the Commonwealth of Virginia, Monumental Sports & Entertainment, and JBG SMITH. According the Alexandria Economic Development Partnership (AEDP), the entertainment district will include hotels, retail, residential, restaurants, conference, and community gathering spaces. Other standout elements include: The global headquarters for Monumental Sports & Entertainment and its more than 650 employees An arena for the Washington Capitals and Washington Wizards A state-of-the art Monumental Sports Network media studio The Wizards practice facility An expanded e-sports facility A perf...