Wesley Potts, who operates a Valvoline Express shop in Reynoldsburg, was arrested and charged with conspiracy to commit aggravated murder, 10TV's Jason Frazer reported on Friday.
The investigation by the Franklin County Sheriff's Office is not yet closed and there could be additional arrests in the case.
Franklin County Sheriff Zach Scott said Potts contacted and hired someone to kill the former employee because he wanted to collect as much as $500,000 in insurance money, Frazer reported.
According to Scott, Potts arranged for the hitman to be paid $50,000.
"There was a condition of the contract was to make sure that he was killed in a manner such as a crime. Not an accident because (the insurance policy) wouldn't pay as much," Scott said.
Scott said investigators discovered Friday that Potts was moving forward with the plot.
"We were able to find out today that a payment was made of $1,000 to an individual to have this employee killed," Scott said.
Investigators said the former employee was being held in protective custody, Frazer reported.
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