George Thacker, Rhea County’s longest-serving county executive, pleaded guilty Thursday to a federal count of wire fraud stemming from his use of coronavirus stimulus funds to invest in cryptocurrency.
Thacker resigned his post Thursday, prior to his appearance in U.S. District Court in Chattanooga, according to his attorney, Lee Davis.
Thacker will face a hearing Sept. 22, when he could be sentenced by U.S. District Judge Charles E. Atchley Jr. to a maximum of 20 years in prison, $250,000 in fines and supervised release for up to three years, according to the U.S. Attorney’s Office.
Thacker, 59, of Spring City, appeared in federal court April 13 and waived his right to prosecution by indictment, filing an agreement to enter a guilty plea in the case, according to federal court documents.
Thacker followed through on the plea Thursday.