The Franklin Police Department announced the arrest of Nashville businessman and Franklin resident Michael David Verble.
He was taken into custody in Hot Springs, Ar., and will soon be extradited to Tennessee after the Williamson County Grand Jury indicted 64-year-old Verble of theft and financial exploitation of a senior.
According to an FPD news release, the June 11 indictment for two counts of financial exploitation of an elderly person and theft of at least $10,000 but less than $60,000 result from what it alleges was his commission of fraud while operating a business.
"Mr. Verble committed these frauds while operating under the business Verble Estate Preservation and Advisors," the news release reads. "Franklin Police Detectives began investigating this case in November 2019 after receiving a referral from Adult Protective Services."
According to Verble Estate Preservation and Advisors website, the company offers financial advisement for seniors, specifically around social security payments.
"Our mission is to provide you with financial strategies that may create financial clarity and improve your quality of life. Making a strong commitment to families nearing or already enjoying retirement and building a lifelong relationship with them are tenets of our success," the website reads.
According to that same website, Verble was born in Livingston, Tenn., but was raised in Hot Springs where he was arrested.
Verble's professional background is listed as having experienced in the health care, financial services and insurance industries.
"Watching his father lose his retirement fund to white collar criminals was a dramatic event for Michael and was the catalyst that prompted him to return to college in 1994 determined to devote his life to helping senior citizens," the website reads.
Verble does not yet have a court date listed in Williamson County.