nbc12 is reporting that slumlord Donald Lacey “was sentenced in the Federal Courthouse in Richmond to 121 months on Count 1 and 120 months on Count 2. The sentenced will be served out concurrently.” Lacey’s companies bought vacant houses (almost 100 in the Church Hill area) and were to “renovated [the] fixer-uppers using investors’ money” [...]
nbc12 has a follow-up on Donald Lacey, the developer who was to have bought and renovated fixer-uppers using investors’ money but instead allegedly burnt through the cash without touching any of the myriad of vacant houses in the area: Donald Lacey will be in court in March 15. NBC12 has been investigating complaints about Lacey [...]
Three companies, all managed by Stacy Martin of Hermitage Realty, own 15 vacant houses within 4 blocks of my house (including the 2 pictured above). These companies collectively have over 90 houses on the the city’s Vacant Property Registry, the vast majority of which are in the East End.
A complex real estate scheme has direct connections to vacant houses the area. Today’s RTD profiles the woe of Donald Lacey, whose companies were “to have bought and renovated fixer-uppers using investors’ money” but instead apparently burned through millions of dollars of investor money on vacation homes, boats, and expensive cars.
