June 27, 2011
Department of Justice
United States Attorney William C. Killian Eastern District of Tennessee
SEVIERVILLE RESIDENT PLEADS GUILTY IN LOAN FRAUD CASE
KNOXVILLE, Tenn-Jacky McCarter, 53, of Sevierville, Tenn., pled guilty on Wednesday, June 22, 2011, to five counts of making false statements to influence banks, one count of money laundering, and one count of failing to file a tax return with the Internal Revenue Service (IRS). These charges were contained in an information filed in U.S. District Court on April 15, 2011.
From December 2004 until September 2008, McCarter admitted that he created several forged quit claim Deeds which purported to transfer to himself and his spouse title and interest in pieces of real property in Sevierville, Tenn. McCarter then applied for home equity loans, a consumer loan, and a residential loan, using the real property as collateral for the loans.
As part of his plea, McCarter admitted that during 2005 he received gross income in excess of $16,400 from defrauding other individuals and from embezzling funds from the English Mountain Football Conference. He acknowledged that although he was aware he was required to file a tax return for that year, he failed to do so.
This investigation was conducted by IRS - Criminal Investigation. Assistant U.S. Attorney Matthew T. Morris represented the United States.