RICHMOND, Va. (WRIC) — A Glen Allen man who hid greater than $400,000 in belongings from a Virginia Bankruptcy Court pleaded responsible at present.
In January 2019, 44-year-old William Henry Romm III filed a Voluntary Petition for Bankruptcy in an Eastern District Virginia court docket. In submitting that petition, Romm intentionally hid the truth that he had not too long ago acquired each a sizeable quantity of actual property and a considerable life insurance coverage payout after his father’s demise.
Shortly after submitting for chapter, Romm offered the hid actual property and spent the proceeds on — amongst different issues — a ship for private use.
Romm additionally hid his marital standing from the Court and Trustees, claiming that he was single in his court docket filings. Romm had opened financial institution and brokerage accounts in his spouse’s title however maintained management of them himself.
Using these accounts, Romm would cover his actual property income, commerce shares and even forge his spouse’s signature in drafting checks.
In whole, Romm hid greater than $400,000 in belongings from the Bankruptcy Court earlier than the Court dismissed his chapter case in August of 2021.
Romm is scheduled to be sentenced on August 19 and faces a most penalty of 20 years in jail.
Actual sentences for federal crimes are usually lower than the utmost penalties. A federal district court docket choose will decide his sentence after bearing in mind the U.S. Sentencing Guidelines and different statutory elements.