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Two Giles County men were named Friday in a 42-count federal indictment handed up by the U.S. Federal Court in Roanoke.
Ted J. Johnson, Jr., 57 of Pearisburg, who was the former commissioner of revenue and clerk of circuit court in Giles County and Frank G. Farrier, Jr., of Newport, were arrested Friday morning after the federal indictments claimed the two defrauded investors out of millions of dollars. The pair, who at the time the offenses were committed, ran businesses called Mountain Investments, which was described as trading in financial markets, and Dogwood Farms, a real estate company. The case, which was outlined Friday by Assistant U.S. Attorney Jennie Waering, included multiple counts of mail and wire fraud, money laundering, securities fraud and more. Waering is also asking Johnson to turn over $3.8 million in money or property.
Johnson was arraigned Friday and pleaded not guilty to all charges. Farrier had an attorney appointed to represent him and will not be arraigned until he has had a chance to confer with his lawyer.
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