Wednesday, October 24, 2018
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Happening Now

Donald Gentry Lawsuit Alleges Brother Ran Ponzi Scheme

Jeffrey Lynn Gentry is already reportedly under investigation by the FBI, now he’s being sued by his brother, Donald.

The suit indicates until January 2012, the brothers were owners of Gentry Bros. Tractor Supply LLC. At that time, they dissolved the business and Jeff Gentry was to take on all responsibility for debts. In the suit, Donald Gentry said that wasn’t the case.

He accuses Jeff Gentry of running a Ponzi-type scheme, using the money from new investors to pay dividends to old investors. The suit states Donald Gentry paid $300,000 into the scheme. The suit claims Jeff Gentry and his wife Wendy allowed the business to close when the scheme failed, defaulting on debts, and at least one creditor has gone to Donald for payment.

Gentry Bros. Tractor Supply closed suddenly on December 19. Sparta Police Chief Jeff Guth said questions involving the business would need to be directed to the FBI. District Attorney Bryant Dunaway said the FBI is investigating a case in White County with many victims and a lot of money involved, but he declined to site the subject of that investigation.

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