Former Piedmont Triad Partnership CEO Powell Arrested

The former leader of a Triad economic development group is now facing felony charges.

David M. Powell was CEO of the Piedmont Triad Partnership for more than four years, stepping down in January 2015.

After he resigned, PTP officials said they became aware of some “financial irregularities” that cropped up during his tenure.

Now, Powell is facing two counts of embezzlement in excess of $100,000 and two counts of obtaining property by false pretenses in excess of $100,000.

Guilford County assistant district attorney Howard Neumann confirmed the former CEO was arrested in Greensboro Monday. Powell, a Winston-Salem native, posted bail the same day.

If he is convicted, he could face a maximum of more than ten years in prison for each felony charge.