Bankrupt Man Guilty of Hiding $2 Million
A Lighthouse Point Businessman Was Convicted by a Federal Jury Friday of Hiding More Than $2 Million from a Bankruptcy Court and His Creditors. Thomas A...
A Lighthouse Point businessman was convicted by a federal jury Friday of hiding more than $2 million from a bankruptcy court and his creditors.
Thomas A. Warmus, who owned American Way Service Corp., an insurance company that operated in several states, did not disclose that he owned a $170,000 Ferrari, a $90,000 Lamborghini, a World War II fighter jet and a 43-foot boat, among other items. Warmus had a personal worth of $50 million before his 1994 bankruptcy.
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He was convicted on four counts of bankruptcy fraud and faces five years in prison on each count. His sentencing hearing is scheduled for Oct. 10 before U.S. District Judge Shelby Highsmith.
Marcus Vance is a cybersecurity auditor and technology writer dedicated to educating the public about online safety, data privacy regulations, enterprise security, and emerging cyber threats.
