A Letcher County business owner, who previously admitted he underreported more than $5 million in income over the course of three years, has been sentenced to 30 months in federal prison. On Tuesday, U.S. District Judge Amul R. Thapar sentenced 38-year-old Jarrod C. Breeding for making false statements on tax returns filed with the IRS. Under federal law, Breeding must serve at least 85 percent of his sentence. Breeding is the owner of Southern Steel Recycling and 201 Speedway Racing in Isom. He reportedly structured transactions below $10,000 to avoid banks reporting it to federal officials and only reported the amounts on his bank statements.