Staunton Realtor Faces Three Felony Construction Fraud Charges Amid $500,000 Victim Losses

A Virginia real estate professional is facing escalating legal consequences as authorities bring additional felony construction fraud charges against her, with court records indicating that victims may have lost more than $500,000 in incomplete residential projects.

Amy Jo Argenbright, 45, owner of Staunton-based A & Co 2002, LLC, was first indicted in August 2024 on construction fraud allegations. The case has now expanded with two additional felony charges brought by an Augusta County grand jury in November, as the investigation into her business practices continues to unfold.

Background and Context

The initial charges stemmed from an investigation by the Augusta County Sheriff's Office, which began examining complaints against Argenbright's business operations earlier this year. Construction fraud typically involves contractors receiving payment for work that is never completed, substantially delayed, or performed below agreed standards, often leaving victims with significant financial losses and unfinished projects.

According to court documents, the scope of alleged fraud has expanded beyond the initial complaint, with investigators now identifying multiple victims and total losses exceeding $500,000. The case highlights ongoing challenges in regulating contractors who operate in both real estate and construction services, where conflicts of interest can arise when professionals control multiple aspects of property transactions and improvements.

Key Figures and Entities

Court filings identify Amy Jo Argenbright as the central figure in the investigation, operating through her business entity A & Co 2002, LLC, registered in Staunton, Virginia. The company purportedly offers both real estate services and construction contracting, a combination that investigators say facilitated the alleged fraud.

The case is being overseen by Augusta County Circuit Court Judge Shannon T. Sherrill, who has expressed concern about the delay in securing legal representation for the defendant. The primary investigator on the case is C.M. Hilliard of the Augusta County Sheriff's Office, who has obtained court orders to examine financial records from F&M Bank and Truist, where Argenbright maintains accounts.

Legal and Financial Mechanisms

Court documents reveal a detailed timeline of alleged fraudulent activities. In May 2023, one victim signed a contract with Argenbright to complete construction on a single-family home with a March 2024 deadline. By September 2024, when a formal complaint was filed, the victim reported paying more than $366,000 for work that remained substantially incomplete.

"The home did not have windows, siding, or the interior work completed," court records state. This specific case forms the basis for the initial construction fraud charge, while two additional charges relate to alleged offenses in 2018 and 2024, suggesting a pattern of behavior spanning several years.

The legal proceedings have been complicated by Argenbright's inability to secure defense counsel. During a November 5 court appearance, she informed Judge Sherrill that despite receiving multiple quotes, financial difficulties prevented her from hiring an attorney. She cited losing five construction contracts and three real estate deals since the initial charges, resulting in no income.

International Implications and Policy Response

While this case is local to Virginia, it reflects broader concerns about construction fraud and contractor accountability that jurisdictions worldwide continue to address. The combination of real estate and construction services under one business entity creates potential conflicts of interest and opportunities for exploitation that regulators have struggled to effectively monitor.

The case underscores the need for stronger consumer protections in residential construction, including more rigorous licensing requirements, enhanced oversight of contractor finances, and clearer mechanisms for recourse when projects are abandoned. Some jurisdictions have begun implementing requirements for performance bonds or escrow accounts to protect consumers, but such measures remain inconsistent across regions.

This investigation demonstrates how law enforcement agencies are increasingly using financial record examinations to trace fraud patterns and identify multiple victims in what might initially appear as isolated disputes. The court's authorization to examine banking records reflects a growing recognition of the importance of financial transparency in construction-related prosecutions.

Sources

This report draws on Augusta County Circuit Court filings, Augusta County Sheriff's Office announcements, and reporting by The News Leader between August and December 2024. The information is based on public court records and official law enforcement statements.