Steven J. Romer - Page 11

                                       - 11 -                                         
          of Goldman, petitioner obtained at least $575,000.1  Neither New            
          Gold nor Bridgehampton ever received a repayment of this                    

          $450,000 Received From William Marion                                       
               In 1990, William Marion loaned New Gold and Ryer Equities              
          Corp. (Ryer), another corporation controlled by petitioner,                 
          $350,000 and $100,000, respectively, for renovation of apartment            
          buildings owned by each corporation.  These loans to New Gold and           
          to Ryer were personally guaranteed by petitioner.  Some interest            
          on these loans was paid but no payments of principal were made,             
          and the loans remain outstanding.                                           

          Petitioner’s Conviction For Embezzlement                                    
               On March 21, 1991, petitioner was indicted by a grand jury             
          of the County of New York on 14 counts relating to petitioner's             
          embezzlement of funds from Votano, the Marion Family Trusts,                
          Saferstein, and Ripps.                                                      
               On December 9, 1991, after a 2-1/2 month jury trial,                   
          petitioner was convicted in the Supreme Court of the State of               
          New York, New York County, on all 14 counts, and on January 6,              
          1992, petitioner was sentenced to concurrent prison terms, the              

          1    Although the evidence indicates that the total amount of the           
          three forged checks exceeded $575,000, respondent, without                  
          explanation, has charged to petitioner with regard to these items           
          additional income of only $575,000.  We also use respondent's               
          figure of $575,000.                                                         

Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011