Former president and CEO of Southeastern Stud & Components. Inc. was found guilty in Mat of lying to the bankruptcy court about how he paid off a $100K gambling debt
Kennon Whaley will spend six years in prison for lying to the bankruptcy court about how he paid off a $100,000 gambling debt.
Whaleys company, Southeastern Stud & Components. Inc., grossed more than $34 million in 2005 and employed about 125 full-time workers. But business had decreased substantially by 2009, so Whaley filed for Chapter 11 bankruptcy protection and remained in bankruptcy until 2011.
Our nations bankruptcy laws are a fund…