LANSING, Mich. -- A convicted embezzler who snagged a multimillion-dollar tax credit for his business faces charges he violated parole.

Richard A. Short was arrested Wednesday, a day after the 57-year-old shared the stage with Gov. Jennifer Granholm as she announced RASCO would get $9.1 million in tax credits for setting up its headquarters in Flint.

Short is being held in the Genesee County Jail.

State Corrections spokesman Russ Marlan said Short likely will be charged Thursday or Friday with violating the conditions of his parole.

If the parole board finds Short in violation, he could be returned to prison to complete the year remaining on his sentence or be placed back on parole, possibly with additional conditions such as a tether.

Meanwhile, the Michigan Senate will hold hearings next week to investigate past state tax credits after a convicted embezzler out on parole snagged one for his business.

Senate Majority Leader Mike Bishop appointed two committees Thursday to look into the matter.

The Senate Commerce Committee has asked Michigan Economic Development Corp. officials to testify next Wednesday.

Democratic Sen. John Gleason of Flushing objected, saying the focus should be on getting jobs, not pinning blame.

TV5 has learned Short has been convicted of three fraud-related felony crimes, one of which was in Genesee County.

He was also convicted in Muskegon County for embezzlement of a battery manufacturer and convicted in Oakland County for obtaining money under false pretenses.

TV5 also discovered Short made his home at a Flint trailer park that doubled as company's world headquarters.

RASCO was to use the tax credits to build a company headquarters that would house research and development in Flint.

The project was expected to create 1,813 new jobs, including 765 directly with the company.

Stay with WNEM.com and TV5 as this story develops.