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.
Listen to EAT IT, VIRGINIA for restaurant news and interviews.