White County Business Owner Sentenced To Three Years In Prison For $43 Million Investment Scheme

[nitpicker]

https://www.justice.gov/usao-mdtn/pr/white-county-business-owner-sentenced-three-years-prison-43-million-investment-scheme

Department of Justice
U.S. Attorney’s Office
Middle District of Tennessee

FOR IMMEDIATE RELEASE
Monday, May 14, 2018

White County Business Owner Sentenced To Three Years In Prison For $43 Million Investment Scheme

Jeffery Lynn Gentry, 40, of White County, Tennessee, was sentenced today in U.S. District Court to 36 months in prison, followed by three years of supervised release, for wire fraud and money laundering, announced U.S. Attorney Don Cochran for the Middle District of Tennessee. U.S. District Court Judge Aleta A. Trauger also ordered Gentry to pay $10, 410,672.74 in restitution. Gentry was charged on July 5, 2017, with operating a $43 million investment scheme in which he bilked investors out of more than $10 million. He pleaded guilty on August 10, 2017.

According to court documents, Gentry owned and operated Gentry Brothers Tractor Supply and Gentry Auto, both located in Sparta, Tennessee. Beginning in 2012 and continuing to mid-December of 2016, Gentry devised and executed a scheme to defraud and obtain money and property from investors, promising high rates of return on investments, purportedly used to purchase farm-related equipment to satisfy state contracts and producing significant profits.

Gentry falsely represented to investors, including customers, friends, acquaintances, and family members, many of whom lived in White County, Tennessee, that he was bidding on and winning contracts from various states, including Tennessee, to supply equipment, including tractors, lawn mowers, and other farm-related equipment through his tractor supply company. Through this scheme, Gentry convinced more than 50 individuals to invest funds totaling approximately $43 million and caused financial loss to investors of more than $10 million.

Despite his assurances to investors of significant returns, Gentry admitted that he never intended to invest the funds as promised but instead, used the money to subsidize his lifestyle, amassing assets worth a substantial amount of money, including numerous tracts of real estate and vehicles.

In March 2016, Gentry also used investor funds to start up and support a new business venture, Gentry Auto, a used car lot, transferring more than $365,000 of investor funds from the Gentry Brothers Tractor Supply Company to the Gentry Auto business between March 24, 2016 and December 6, 2016.
(snip)

[mr_lebowski]

1. Can't never trust The Gentry ... how else you think they became The Gentry?

Do I even need to mention that if he was black, he'd probably have gotten roughly the same sentence for bilking ... say ... $1,000 ... from the wypipo?

And had he stolen $10M, he'd have gotten 25 years of hard-time, MINIMUM?

Or does that go without saying?

[marble falls]

2. Three years. Three years less 'good time'. Bullshit sentence.