Highly-regarded Bowling Green City employee Davis Cooper is a free man after his Monday afternoon appearance in Federal Court.
Cooper was released from the Warren County Regional Jail on a $50,000 unsecured bond, but is prohibited from leaving the state.
The longtime city employee was arrested Saturday afternoon at his Bowling Green home following a nine day investigation by the FBI.
Investigators believe Cooper stole at least $2.3 million in taxpayer money, which was pushed back through several accounts not affiliated with the city.
"There were equity lines of credit and other bank accounts where money was deposited, and he could make withdrawals on that money."
FBI agents say they don't believe anyone else is involved in the scheme.
Cooper's attorney says his client has expressed remorse and is willing to cooperate with investigators.
"Mr. Cooper has agreed to help the city do whatever it takes to get the money back. He has advised them there may be insurance to cover this sort of thing and make the city whole again if that's possible."
If Cooper is found guilty of the charges, he could face up to 10 years in prison, a $250,000 fine and restitution to the city.
Cooper's next court date is set for May 18.