Lacey gets 10 years for shady real estate dealings

08/03/2010 12:17 PM by

1216 and 1218 North 24th Street

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” but instead apparently burned through millions of dollars of investor money on vacation homes, boats, and expensive cars.



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