A Memphis real estate agent, already facing theft charges from late last year, is back in custody following a new indictment for property theft valued between $60,000 and $250,000. Joshua Spotts was arrested again this week, and his bail has been set at $500,000, according to court records.
This latest charge comes just over three months after Spotts was first arrested and indicted for allegedly keeping more than $14,000 from renters. He had previously been released after posting a $10,000 bond for that initial charge. His real estate license is now listed as invalid in Tennessee.
Key Takeaways
- Memphis real estate agent Joshua Spotts has been arrested on a new charge of property theft.
- The new indictment alleges theft of property valued between $60,000 and $250,000.
- Bail for the new charge has been set at $500,000.
- This follows a November arrest for a separate theft charge of over $14,000.
- Spotts' Tennessee real estate license is no longer valid.
New Indictment Leads to Re-Arrest
Court documents filed in Shelby County show that Joshua Spotts was taken into custody again this week. The new indictment accuses him of a significantly larger theft than the one he was charged with in November.
The charge is for theft of property valued at $60,000 or more, but less than $250,000. The indictment specifies that the alleged unlawful control over the money occurred over a multi-year period, spanning from 2020 to 2025. The documents state Spotts "did unlawfully and knowingly obtain or exercise control over certain property, to wit: a sum of money, of the value of $60,000 or more."
Case Details
- New Charge: Theft of Property ($60,000 - $250,000)
- New Bail Amount: $500,000
- Previous Charge: Theft of Property (over $14,000)
- Previous Bail Amount: $10,000 (Paid)
While the indictment does not provide specific details on the nature of this alleged theft, the high bail amount of half a million dollars reflects the severity of the new felony charge. This development marks a serious escalation in the legal troubles facing the former real estate professional.
A History of Financial Allegations
The recent arrest is the latest in a series of legal issues for Spotts. His initial arrest in November 2023 stemmed from allegations that he improperly withheld funds totaling more than $14,000 from individuals renting a Memphis property he managed. He was released from custody at that time after meeting the $10,000 bail requirement.
Beyond the official charges, Spotts has been connected to other serious financial accusations. He was previously accused of stealing nearly $1 million from an elderly neighbor, a case that adds another layer of complexity to his legal situation. There are also allegations that he deposited several fraudulent checks into an account at Orion Federal Credit Union, totaling more than $12,000.
These various cases, filed in both criminal and circuit courts in Shelby County, paint a picture of mounting legal pressure. The combination of charges and accusations involves significant sums of money and multiple alleged victims.
Understanding Theft Charges in Tennessee
In Tennessee, the severity of a theft charge is determined by the value of the property stolen. Theft of property valued between $60,000 and $250,000 is classified as a Class B felony, a serious offense that can carry significant prison time and fines upon conviction.
Professional License Now Invalid
The ongoing legal proceedings have had a direct impact on Spotts' career. A check of state records confirms that his Tennessee real estate license is now deemed invalid. This status effectively prevents him from legally participating in real estate transactions within the state.
For professionals in the real estate industry, maintaining a valid license is essential for operation. The invalidation of his license represents a major professional consequence, separate from the potential outcomes of his criminal cases. It is unclear at this time under what specific circumstances the license became invalid, but it coincides with the period of his legal troubles.
As the cases against Spotts proceed through the Shelby County court system, more details are expected to emerge regarding the specific allegations that led to these serious charges. He remains in jail, facing a substantial bond requirement for his release pending trial.
