A Decatur used car dealership that is the subject of a lawsuit between its partners has filed for bankruptcy in federal court with a list of creditors that includes Morgan County Sheriff Ana Franklin.
Franklin said she has known Jeffreys for a long time and knew his reputation as a good businessman when she used money from her savings and her retirement for the loan.
Franklin said she knew Steenson had “prior issues,” but did not know Steenson was part owner of the company when she made the loan. She said she thought Jeffreys owned the company and Steenson ran the company.
Steenson pleaded guilty in 2002 to federal bank fraud conspiracy charges. He was sentenced to more than four years in federal prison and ordered to pay more than $5.2 million in restitution.
Franklin said “it would have been nice to have known” Steenson owned part of the company when she made the loan.
“I don’t know if it would have affected my decision,” she said. “I may have asked additional questions if I had known.”