Gentry Faces Federal Money Laundering, Wire Fraud Charges

White County resident Jeffery Lynn Gentry faces federal charges of money laundering and wire fraud.

The U.S. Attorney’s office said Gentry convinced more than 50 people to invest funds totaling $43 million. Investors lost more than $10 million.

Until December, Gentry and his wife Wendy owned and operated Gentry Brothers Tractor Supply. Gentry Auto was closed later. Both businesses were located in Sparta.

According to the federal information, Gentry told investors he was bidding on and winning contracts from various states to supply tractors, lawn mowers and other farm related equipment.

Many of the investors were customers, friends and family members and many lived in White County, according to court documents.

In March 2016, Gentry used investor funds to open Gentry Auto, transferring money from the tractor business to the car lot.

He faces 1 count each of money laundering and wire fraud. If convicted, Gentry faces up to 40 years in prison. The information also requests Gentry forfeit at least $10 million.

Gentry has been under federal investigation since December 2016.

At least three civil suits have been filed against Gentry and his wife Wendy, alleging they ran a Ponzi-like scheme.