Georgetown Homebuilder Indicted for Alleged Multi-Million Dollar Fraud

Norman Ashby, a 46-year-old resident of Georgetown, TX, faces felony charges following an indictment by a Williamson County Grand Jury and subsequent arrest. The charges include Misapplication of Fiduciary Property (exceeding $300,000), Theft of Services (exceeding $300,000), and Tampering with a Witness.

Formerly the proprietor of Ashby Signature Homes, LLC, located in Williamson County, Ashby stands accused of amassing millions of dollars from clients over several years for the construction of homes in the region. Many of these clients purportedly paid substantial amounts, often surpassing $1,000,000, primarily in cash. Instead of adhering to legal requirements by depositing these construction funds into a trust account, Ashby allegedly mixed the client funds together. Subsequently, these funds were purportedly diverted for Ashby’s personal expenses and projects unrelated to clients’ deposits. The alleged fraudulent activity is estimated to exceed $10,000,000.

The investigation into this case was conducted by the Criminal Investigations Division of the Office of the Attorney General of Texas (OAG). The OAG Criminal Prosecutions Division will oversee the prosecution of the case, which remains ongoing.