Va. TV Station Owner Charged with Fraud

April 11, 2012

The owner of a Newport News-based religious broadcasting company is on trial on federal charges of defrauding more than 80 investors.

JBS Broadcasting owner Samuel B. Jacobs II of Hampton is charged with 29 fraud-related counts stemming from the investments in a failed financial services firm. Initial investments totaled $752,000.

The Daily Press ( ) reports that Jacobs testified Tuesday that he is working to pay back the money owed to investors. Many of the investors were members of church groups.

The trial continues Wednesday.

The comments sections of are designed for thoughtful, intelligent conversation and debate. We want to hear from our viewers, but we ask that you follow our rules for commenting. E-mail is required to comment on a story, but it will not be displayed with your comment. For complete rules, CLICK HERE. The Newsplex reserves the right to not post or to remove any comment.
powered by Disqus
The Charlottesville Newsplex 999 2nd Street S.E. Charlottesville, VA 22902 434.242.1919 – Main 434.220.7522 - Newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 147006015 -
Gray Television, Inc.