TYLER, Texas (KLTV) – A grand jury has indicted a Tyler man accused of stealing over $300,00 from 5 individuals.

John Russell Hobbs, 62, is charged with forgery of a monetary instrument, cash laundering and theft. He was arrested on Monday and posted a $90,00zero bond.

In accordance with the textual content of the indictment, Hobbs bought BP and Exxon inventory which belonged to 5 separate individuals in an try to get hold of the funds. The cash laundering indictment states Hobbs did so as a way to distribute the cash between he and two different individuals.

Hobbs is scheduled to look in courtroom on Aug. 19.

The indictment doesn’t give data on Hobbs’ relationship, if any, to the victims.

Copyright 2022 KLTV. All rights reserved.