Shubert Motor Sales probe ongoin

White said Thursday that any resolution to the investigation could be months away.

“We do expect that we will hopefully have some information on what will be taking place but that’s probably some time in the next few months,” White said.

In addition to the investigation, three lawsuits have been filed in Loudon County against Shubert Motor Sales, Mike Shubert and Mark Shubert.

Two suits were filed in Circuit Court of Loudon County. One, by Jack Bowden, indicates Bowden made five loans totaling $218,500 to the Shuberts dating back to April 2011, and that Bowden is still owed $182,116 from those loans.

Another suit, filed by Darrell and Wanda Kirby, shows the plaintiffs made a loan of $100,000 to the Shuberts in April 2016 and that the money was to be used for “automobile sales.”

The note states that the Shuberts were to repay “the sum of $10,000 per month in profits from the user of the money for automobile sales.”

Also included in the note, according to the suit, was $20,000 for a 2014 Honda Accord EXL for the plaintiffs.

“Defendants made no principal reduction payments on the loan amount of $100,000 nor have the defendants produced the plaintiffs’ 2014 Honda Accord EXL,” the suit says.

Amanda Smith, attorney for both Bowden and the Kirbys, declined to comment.

As previously reported, a suit by David and Pam Aaron was filed Feb. 10 in Chancery Court of Loudon County.

The now vacant Shubert Motor Sales property beside the new Lenoir City Municipal Building on U.S. Highway 321 is currently listed for sale at $1.275 million.

Because the investigation is ongoing, TBI could not comment “to anything related to a potential sale of the property,” Susan Niland, TBI public information officer, said.