A federal jury in Montgomery has convicted an Auburn man on two counts of bankruptcy fraud for concealing assets of his business from the Bankruptcy Court and his creditors
Kennon W. Whaley, 51, was convicted in federal court on Tuesday, said George Beck Jr., U.S. Attorney for the Middle District of Alabama. Whaley was the president and CEO of Southeastern Stud & Components since its creation in 1999. Southeastern Stud was located in Montgomery and was in the business of manufacturing light steel framing components for use in commercial and industrial construction.
At its peak in 2005, Southeastern Stud grossed more than $34 million, had 125 full-time employees and distributed steel to customers throughout the country, …
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