The men who promised to bring jobs to Scott County with a lumber county venture, are now facing multiple felony charges.
News Channel 11 was at the Scott County Sheriff’s Office when James David Fannon turned himself in Thursday morning.
According to Scott County Circuit Court records, Fannon is facing 47 felony charges. The counts include forgery, obtaining money under false pretenses and attempting to use forged checks,
Lester Neal Stidham, Fannon’s business partner, is facing 16 counts, including multiple counts of writing bad checks and obtaining money under false pretenses.
Fannon and Stidham were behind Mountain Top Timber Products, LLC. In July 2018, Governor Ralph Northam announced the company would invest $3.76 million into an abandoned industrial building in Dungannon.
VCEDA also presented the Scott County Economic Development Authority a $1 million loan for that project.
According to the Scott County Commonwealth’s Attorney, this is an ongoing investigation. They’re working with Virginia State Police to explore “many avenues.”
The company was slated to create 50 new jobs over three years.
News Channel 11 has learned the company is facing more problems.
In March 2019, the group filed for Chapter 7 bankruptcy in the Western District of Virginia Bankruptcy Court.
This is a developing story. Stay with News Channel 11 and WJHL.com for updates.