A Macon businessman has been named in a 49-count indictment alleging he embezzled nearly $476,000, according to Bibb County Superior Court records.
A Bibb County grand jury charged William David “Billy” Ramsbottom Jr., with 47 counts of fiduciary theft and two counts of forgery. He also was named in a second indictment that charged him with one count of theft by taking, according to court records.
Ramsbottom, 44, was previously indicted in February on racketeering charges alleging he embezzled $421,000.
Ramsbottom acted as a managing partner of Retreat Village Management Co. LLC and Retreat Village Property Co. LLC, two companies created to manage and control commercial rental properties located in a St. Simons Island shopping center, according to court records.
The records allege Ramsbottom diverted rent payments and money paid to the two companies for his own financial gain in 2007 and 2008.
Bibb County District Attorney Howard Simms said further investigation uncovered more missing money and the new indictment replaces the February charges.
He said Ramsbottom no longer is charged with racketeering. With the fiduciary theft charges he faces a potentially longer sentence.
“He could get 10 years for each count in the indictment,” Simms said. If convicted of racketeering he would have faced a maximum 20 year penalty.
Ramsbottom was arrested Tuesday afternoon and is being held at the Bibb County jail on $55,200 bond, according to jail records.
Ramsbottom’s attorney, Jerry Lumley, said he had not seen the new indictments late Tuesday.
Lumley previously has said his client did nothing wrong. Simms said the case is one of the largest financial cases that’s been prosecuted in Bibb County since he became district attorney in 2000.
In the second indictment, Ramsbottom is accused of leasing space in a Houston County shopping center and taking a $5,180 payment from Finesse Nails Inc. “He never had the authorization to lease it,” Simms said.
Information from The Telegraph’s archives was included in this report.
To contact writer Amy Leigh Womack, call 744-4398.