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.