DAVIE, Fla. -- A suspended Davie official has been arrested again and he is facing serious charges.

Christopher John Kovanes, 34, was suspended with pay from his position as Davie's town administrator on Oct. 18, around the time Florida Department of Law Enforcement officials began investigating him on allegations of misappropriation of funds.

Friday, FDLE agents arrested Kovanes in connection to town funds that they say ended up in the account of Kovanes' fake company. Investigators said the company was a sham and didn't really exist.

Kovanes is charged with organized fraud, money laundering and grand theft.

He is accused of stealing a total of $362,329 from Davie by depositing checks made payable to Geographic Environmental Origin Inc. into an account he allegedly opened at a Bank Atlantic branch Jan. 20, 2004. That account was opened with an initial deposit of $15,000 also made payable to GEO Inc. by the town, authorities said.

Kovanes is accused of depositing 20 town checks ranging from $4,600 to $55,890 into the bank account from January 2004 through October 2005.

Authorities said GEO Inc. lists Kovanes as the sole officer and registered agent, and said the business' address in Fort Lauderdale, Fla., does not exist.

Kovanes has also been under investigation by FDLE agents since October on allegations involving illegal pornography. That case is still ongoing.