Glen Allen Man pleads guilty to $400,000 fraud scheme | USAO-EDVA

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RICHMOND, Va. – A Glen Allen man pleaded guilty today to executing a mail fraud scheme during his bankruptcy proceedings in order to conceal the true extent of his financial assets from the bankruptcy trustee and his many creditors.

According to court documents, in January 2019, William Henry Romm, III, 44, filed a voluntary petition for bankruptcy with the United States Bankruptcy Court for the Eastern District of Virginia. In filing this petition, Romm deliberately concealed his recent receipt of both a large life insurance policy payout and a real estate package, both of which he received after his father’s death. Romm soon after sold this real estate and spent most of these concealed proceeds, among other things, on a boat for his personal use.

Over the next two years, Romm continued to conceal his receipt and dissipation of additional funds, including over $268,000 he received from the sale of his late father’s residence. Romm’s efforts to conceal also included concealing his marital status from the Court and administrators by presenting himself as celibate in his court documents; opening bank and brokerage accounts in his wife’s name, but over which he retained control; using these accounts to hide the proceeds from the sale of real estate; write checks on the bank account by falsifying the signature of his wife; and using the brokerage account to trade shares he purchased with proceeds from the sale of real estate.

To ensure that the bankruptcy court and the trustee were unaware of his financial activities, Romm also knowingly filed false documents with the bankruptcy court and made numerous false statements under oath. In total, Romm hid more than $400,000 in assets from bankruptcy court before the court dismissed his bankruptcy case in August 2021.

Romm is due to be sentenced on August 19. He faces a maximum sentence of 20 years in prison. Actual sentences for federal crimes are generally lower than the maximum sentences. A federal district court judge will determine any sentence after considering US sentencing guidelines and other statutory factors.

Jessica D. Aber, U.S. Attorney for the Eastern District of Virginia, and Stanley M. Meador, Special Agent in Charge of the FBI’s Richmond Field Office, made the announcement after Senior U.S. District Judge Henry E. Hudson accepted the advocacy.

Assistant U.S. Attorney Thomas A. Garnett is prosecuting the case.

A copy of this press release can be found on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Court documents and related information can be found on the website of the district court for the Eastern District of Virginia or on PACER looking for case #3:22-cr-41.

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