Rhea County Executive agrees to plead guilty to wire fraud

George Thacker admits the fraud involved Covid loans for his personal business in 2020-21

DAYTON, Tennessee (WDEF) – Rhea County Executive George Thacker has agreed to a federal plea deal involving government Covid loans.

The plea deal says Thacker will plead guilty to one count of wire fraud.

In the document, he admits that he knowingly defrauded the government to get money.

The case involves loans he got from government programs for Covid relief to her personal business, Thacker Corporation.

The plea document says he got three loans totaling $650,000 but gave false information about how the money would allow the business to continue during the pandemic.

Federal prosecutors say he turned the money around to invest on e-Trade and crypto-currencies for his personal enrichment.

The deal does not include his sentence.

But it will not exceed 20 years in prison.

And he has agreed to hand over the crypto currencies and pay back the money.

A federal judge will sentence him at a later date.