Rumors had been swirling for weeks about investigators looking into the business practices of Marty McDivitt, owner of McDivitt Motors car dealership in Covington.
Those rumors were validated Wednesday when McDivitt, 52, was arrested Wednesday and booked into the Tipton County Jail.
He was arrested on a warrant from the Columbia (Ill.) Police Department and is charged with theft by deception ($10,000 to $100,000) and deceptive practice. Both are felonies.
McDivitt had a hearing today before Judge William Peeler concerning extradition. Peeler set bond at $5,000, meaning if McDivitt makes bond he will be released and not have to go to jail in Columbia.
Columbia Dep. Chief Jason Donjon said he could not comment on McDivitt's case because other departments are also investigating McDivitt.
Covington Police Chief Buddy Lewis said Tennessee state officials investigating McDivitt.
"We've had quite a few calls about issues going on (with McDivitt)," Lewis said.
McDivitt is well-known in the community. He has owned McDivitt Motors, located on Highway 51 near Mueller Brass Road, for many years and has been a prominent booster of the Covington High School football team.
He is being represented by Huffman Mason Law Firm.
The Leader will update this story as it develops.