News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
The U.S. Marshals Service said the Gentry Bros. Tractor Supply liquidation auction was a success. Owner Jeff Gentry pleaded guilty to wire fraud and money laundering earlier this month.
Deputy Marshal Danny Shelton said more than 600 lots were sold in one day.
“Everything was sold and we actually, the final tally on the sale of all the items was $1,034,970,” Shelton said.
Several pieces of land will also be sold through a realtor at a later date. Money from the land sales and the auction will go into a fund held by the U.S. Attorney’s office. It’ll be divided among the victims of Gentry’s Ponzi scheme.
Shelton said the live auction, held Saturday in Sparta set a record.
“It was very large, in fact it was by far the largest attendance we have ever had at any one of our auctions,” Shelton said.
Gentry will be sentenced in federal court in November. Several civil lawsuits are still pending against Gentry and his wife, Wendy.
