Stephen Kromer Indicted on 16 Counts Over Alleged $7.8 Million Grant Theft
Updated
Updated · News3LV · Jun 10
Stephen Kromer Indicted on 16 Counts Over Alleged $7.8 Million Grant Theft
1 articles · Updated · News3LV · Jun 10
Summary
A federal grand jury charged Reno internet provider owner Stephen Kromer, 48, with 16 felonies tied to an alleged $7.8 million embezzlement from a USDA-backed rural broadband project near Lovelock, Nevada.
Prosecutors say Kromer moved money out of a restricted pledged deposit account in 32 wire transfers between May and November 2024, then used false accounting entries and submissions to make the withdrawals appear to be project costs.
More than $6.2 million was allegedly routed from his personal bank account into cryptocurrency exchange accounts after Uprise received a $27 million ReConnect grant and agreed to contribute $9 million to the $36 million project.
Kromer is due in court on June 24, 2026; if convicted, he faces up to 50 years on theft counts and more than 100 years on money laundering and false-document charges.
The case, investigated by the FBI and USDA Office of Inspector General, centers on funds meant to expand high-speed internet access in rural Nevada.