Following a seven month investigation conducted by the Texas Rangers, District Attorney’s Office and the United States Secret Service, an Erath County grand jury indicted two business partners Wednesday on multiple felony counts for allegedly stealing millions of dollars from Erath County clients.
According to a press release issued by District Attorney Jason Cashon, “The Grand Jury considered conduct spanning over 20 years” by business partners David Thomas Cheatham and Paul Anthony Lansford.
The two men, partners in Cheatham & Lansford, CPA, who have practiced accounting for 35 years, were each indicted on 19 felony counts for theft and misapplication of fiduciary property.
Cheatham was indicted on six first-degree felonies, eight third-degree felonies and five state jail felonies.
Lansford was indicted on six first-degree felonies, nine third-degree felonies and four state jail felonies.
Cashon would not release the exact amount the two are accused of stealing, but said it was more than $3 million from multiple individuals, family trusts and non-profit organizations.
Cashon said Wednesday night that Cheatham and Lansford are expected to be arrested within 24 hours.
Both men are being represented by local attorney Gary Lewellen who did not return calls for comment.