CROSSVILLE, Tenn. - Two contractors have been indicted in Cumberland County on theft charges based on allegations that they stole $750,000 from 20 different victims of their construction company.
The Tennessee Bureau of Investigation said in a news release Tuesday that 37-year-old John Emery and 66-year-old Ron Morgan were each charged with nine counts of misapplication of contractors funds and 12 counts of theft over $10,000.
The agency said the two were responsible for the operations of a construction company called USIG. The TBI started an investigation into the company in December 2008 after allegations were made that they were taking draws from victim's construction accounts and not using the money to build homes.
Emery and Morgan were arrested Monday and booked into the Cumberland County jail. They were released on $60,000 bonds.