AUSTIN, Texas — A homebuilder in Williamson County is facing three felony charges after being accused of defrauding customers in various homebuilding projects.
A grand jury in Williamson County indicted 46-year-old Norman Ashby on charges of misapplication of fiduciary property and theft of services greater than $300,000, as well as a charge of witness tampering.
According to the Office of the Texas Attorney General, Ashby allegedly collected millions of dollars from customers to construct homes in Williamson County over a number of years. In many cases, customers paid for the projects almost entirely in cash despite project costs neighboring $1 million.
Texas law dictates that construction funds be put into a trust account, which Ashby didn't do. Instead, according to the AG's office, Ashby allegedly mixed the funds and used them for personal use and projects that were unrelated to original customer payments.
Ashby is alleged to have stolen over $10 million over the course of his dealings.
Ashby was being held in the Williamson County Jail but was released after posting a $125,000 bond.
The case was investigated by the Criminal Investigations Division of the Office of the Attorney General of Texas and will be prosecuted by the office's Criminal Prosecutions Division. The case is still under investigation.