CEO of Montgomery Steel Company Sentenced for Bankruptcy Fraud
Kennon W. Whaley, 51, from Auburn, was sentenced to 72 months in federal prison on August 3, 2016. In May, Whaley was convicted by a federal jury of two counts of concealment of bankruptcy assets while his company, Southeastern Stud & Components, was in Chapter 11 bankruptcy proceedings. The evidence at trial showed that during the bankruptcy process Whaley redirected a $260,000 insurance payment…
