Former Alanar executives charged

SULLIVAN, Ind. (WTHI) - Former pastor Vaughn Reeves and his sons Chip , Chris and Josh are now facing 10 separate felony charges.

The charges were filed Tuesday in the Sullivan Circuit Court . Chip Reeves is the only one who has been arrested and is the Sullivan County Jail with his bond set at $1.5 million.

The Reeves allegedly committed fraud by convincing victims to buy bonds that totaled at least $120 million, according to court documents. This money was supposed to go towards church construction, instead the Reeves allegedly took about $6 million.The Reeves allegedly used Alanar Inc. to cover-up the scheme.

All four men are facing 10 charges each and could be sentenced up to eight years for each count, if convicted.

There will be a press conference Tuesday at 2:30 p.m. at the Sullivan County Courthouse.

Read the entire press release .