12 INVESTIGATES: Feds launch investigation into missing stimulus money

RICHMOND, VA (WWBT) - State and federal agencies are now looking into Richmond business because of an NBC12 investigation.

Wednesday, we raised questions about stimulus money given to Cephas Industries.

Half a million of your tax dollars was supposed to help create a building and 50 new jobs for the city's southside.

I spoke with the Virginia Department of Mines, Minerals and Energy - the agency that awarded stimulus dollars to Cephas Industries. A spokesperson said the DMME is now working with the Federal Department of Energy to track down equipment purchased with your stimulus money.

In a progress report to the government, Cephas Industries says it spent $230,000 in stimulus money on an excavator and Mack tractor. State and federal agencies now want to know where that is and if it is still being used.

The DMME has tried to reach Morris Cephas over the last several weeks and cannot get a hold of him. We will continue to track this story.

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