Mar 3
2006

James H. Gentry of Sanger, Texas, president of Federal Funding, Inc. and First Realty of the Southwest, Inc. pleaded guilty on March 3, 2006 in the 16th Judicial District Court in Denton County, Texas, Cause No. F-2005-1107-B to theft. Gentry received ten years probation and was ordered to pay $397,000 in restitution. In 2003 and 2004, Gentry sold bonds issued by Federal Funding, Inc., and First Realty of the Southwest, Inc. to an 85 year-old investor which totaled $390,990. Gentry used the funds from the bonds to pay other investors, to pay credit card debt he incurred in other people's names and to pay personal expenses.