U.S. Marshals will be auctioning off tractors, vehicle, tools and other items in the liquidation of Gentry Tractor Supply in White County.

Jeffery Lynn Gentry, 40, is charged in the $43 million fraud case.

The auction is slated for 10 a.m. Saturday at Gentry Tractor Supply located at 759 Millers Point Road in Sparta. A public preview is scheduled from 10 a.m. to 6 p.m. on Friday and at 8:30 a.m. Saturday before the live auction.  Here is the link to the auction web site 

“It’s not every day that the U.S. Marshals hold a live auction to liquidate a tractor supply store,” Deputy U.S. Marshal Danny Shelton said. “We’re hoping that people will come out to Sparta on Saturday for some potential good deals. The Marshals’ goal is to sell absolutely everything, so that the net proceeds from the sale of these and eventually Jeffery Gentry’s other assets can be returned to the more than 50 victims of his $43 million fraud scheme.”

Investigators say from 2012 through December 2016, Gentry told investors he was winning state contracts in Tennessee and other states to provide farm equipment such as tractors and mowers to the states.

Gentry convinced 50 people –which included friends and family– to invest a total of $43 million in his tractor supply company and promised big returns.

Instead, investigators say investors lost $10 million and Gentry used the money to buy real estate, vehicles, and open a used car lot called Gentry Auto.

Gentry was charged on July 5, 2017 for wire fraud and money laundering. Gentry plead guilty to charges on Aug. 10.