HENRICO COUNTY, Va. — Turns out it’s not OK to secretly buy a boat during one’s bankruptcy proceedings. That’s partly what landed local homebuilder William Romm III in legal hot water, as he now awaits sentencing in a criminal bankruptcy fraud case.
Romm pleaded guilty in April and admitted to concealing more than $400,000 from the trustee and creditors in his personal bankruptcy case. The 44-year-old is facing a maximum of 20 years on a single count of mail fraud. He was set to be sentenced this month but recently had the date extended to October. Click here to continue reading on Richmond BizSense.
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