Former Reno CEO pleads guilty in $7.8M laundering

Stephen A. Kromer, owner of former Reno internet provider Uprise LLC, pleaded guilty to federal money laundering after admitting to diverting more than $7.8 million intended for a federally funded broadband project near Lovelock, Nevada. Uprise received a $27 million USDA ReConnect grant in 2022 and was required to contribute about $9 million toward the project; prosecutors said Kromer transferred funds from its designated account to his personal account between May and November 2024, falsely recording them as project expenses, then moved the money through cryptocurrency exchange accounts. He is scheduled to be sentenced March 9, 2027, and faces a maximum statutory penalty of 20 years in prison.