SEVIERVILLE, Tenn. (WVLT) -- A Sevierville real-estate developer was sentenced to five years behind bars on Monday after being convicted for his involvement in a mortgage fraud scheme in May of last year.
Jeffrey Whaley, 49, had been convicted of federal charges of wire fraud, bank fraud, and money laundering. His co-defendant, Sevierville title attorney Jerry Kerley, was sentenced to four years in jail in June 2013.
“These defendants were licensed professionals, one a real estate agent and the other an attorney,” said U.S. Attorney Bill Killian. "They not only had a duty to obey federal law but had a professional duty to their respective professions. They have violated the trust of their clients and unlawfully deprived the victims of their hard-earned money."