MONTGOMERY, Ala. - The former chief financial officer for Terry Manufacturing was sentenced Thursday to more than 3 years in prison and ordered to pay back 5 point 4 million dollars for his role in a fraud aimed at propping up the ailing Roanoke company.
58-year-old Rudolph Terry of Atlanta was ordered by U-S District Judge Mark Fuller to report to prison on October 19th to begin a 41-month sentence.
Terry pleaded guilty April 3rd to a conspiracy charge.
Authorities say Terry and his brother, Roy Terry of Roanoke, contacted a Georgia businessman in 2000 for a loan to create a new business division to be known as Terry Promotional Products.
However, prosecutors say the brothers used the 5 million from the loan to pay bills at Terry Manufacturing, not develop a new division.
The company, founded in 1963, once made uniforms for McDonald's and the U-S military.
Black Enterprise magazine listed the company as one of the largest U-S black-owned businesses in 2003.
Courtesy: Associated Press