Brother Of Singer Wayne Newton Sentenced On Bank CountsAP , Associated Press
Mar. 26, 1986 10:10 AM ET
CHATTANOOGA, TENN. CHATTANOOGA, Tenn. (AP) _ A brother of entertainer Wayne Newton has been sentenced to six years in prison after pleading guilty to two federal charges of helping misapply funds from a bank.
Jerry P. Newton was sentenced Tuesday to a three-year term on each count of aiding and abetting in the misapplication of funds from Traders National Bank of Tullahoma, of which he was part owner. U.S. District Judge R. Allan Edgar said Newton would be eligible for parole at the discretion of the U.S. Board of Paroles.
Wayne Newton attended his brother's sentencing hearing.
Jerry Newton, 45, pleaded guilty Feb. 10 in an agreement with prosecutors on the day he was to go on trial on a 10-count indictment charging him and former bank president Thomas Strawn Jr. with conspiring to make loans and funnel proceeds into personal accounts.
Jerry Newton admitted he helped make a $63,000 unsecured loan to his parents, Patrick and Evelyn Newton, in October 1981, and a $25,000 loan to a man in February 1982, though he actually was the beneficiary of both loans.
Newton bought control of the bank in 1978 with Strawn and District Attorney Charles S. Ramsey, who has not been charged.
Strawn, who served as bank president from 1979-1982, was convicted last month on 31 counts of bank fraud in the case.