A Chesterfield man has been sentenced to 108 months in prison for his role in a scheme to embezzle funds from a law firm trust account.
The scheme, orchestrated by Joshua Brian Romano, 40, involved using construction loans held in escrow in the trust account of a Chesterfield County law firm. Romano, who owned various businesses purchasing, rehabilitating, and selling homes around Richmond, funded this work via construction loans. However, he used the funds for purposes outside the scope of agreements with the lender.
Romano’s actions were carried out through Lindsey Epps Passmore, 39, a paralegal at the law firm. Passmore disbursed $1.2 million of the lender’s funds without the lender’s approval or by misleading the lender about how the funds were to be used.
On November 30, 2022, Passmore was sentenced to serve 14 months in prison for her role in the scheme.
Romano’s sentence was handed down by Senior U.S. District Judge Robert E. Payne. U.S. Attorney Jessica D. Aber and FBI Special Agent Stanley M. Meador announced the sentencing.
The case was prosecuted by Assistant U.S. Attorney Michael C. Moore.
Romano was ordered to pay over $1.2 million in restitution to the victims of his scheme.
This case is a reminder of the importance of transparency and accountability in financial dealings. Romano’s actions were a clear betrayal of trust, and he will now face the consequences of his actions.
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Key Facts
- State: Virginia
- Category: Fraud & Financial Crimes|White Collar Crime
- Source: DOJ Press Release â†â€â€
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