Rhea County executive pleads guilty to wire fraud
George Thacker faces a maximum of 20 years when he is sentenced
UPDATE: The Rhea County Herald reports that Thacker has resigned as County Executive.
CHATTANOOGA (WDEF) – The County Executive for Rhea County has pleaded guilty in federal court to one count of wire fraud.
George Thacker faces up to 20 years in prison when he is sentenced in September.
There was no other sentencing requirement in the plea deal he agreed to.
The case involved 3 loans he took out for his business for Cornonavirus relief.
They money was supposed to be used to pay employees and keep the business afloat during the pandemic.
But he admitted in the plea deal that he switched the funds to personal accounts and even used some of it to invest in cryptocurrency.
Thacker received more than $600,000 from the three loans.
He appeared before the judge today but did not choose to comment to the media afterwards.