Texas Businessman Allegedly Used Company Money to Hire Hitman

John Franklin Howard was arrested for allegedly trying to have his wife killed.
3:00 | 09/12/12

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Transcript for Texas Businessman Allegedly Used Company Money to Hire Hitman
crazy story. An alleged murder plot-for-hire. A wealthy texas businessman charged with hiring hitmen to kill his own wife. He actually funneled the company's money to those would-be killers. And millions more are unaccounted for. Ryan owens has the story. Reporter: He may look like one half of a happy couple. But police say frank howard was hiding a lot behind that smile. Prosecutors accuse the successful accountant, fat of three, and avid churchgoers of spending $100,000 to hire hitmen to murder his wife, nancy. She was shot in the face last month in front of their home. Police arrested this 19-year-old man, who along with members of his family, led detectives right back to the husband. Howard's attorney calls the charges against his client preposterous. It's the theater of the absurd that the police are buying into. Of course, we'll get a not guilty and he'll move on with his wife. Reporter: Frank howard's wife, nancy, survived that hit. She was in a coma. He was by her bedside. When she woke up, she filed for divorce. And court documents reveal another shocker. Nancy's husband confessed to an affair with a woman in california. Bought her a home, a condo in lake tahoe, and gave her $500,000 in expenses. Frank howard's attorney says while his client denies wanting his wife dead, he does admit to the affair. But says it's over. And if all that weren't enough, frank howard is being hauled into court by a former employer. Suing him, saying he embezzled millions of their dollars from contracts in the middle east, to finance his alleged secret life. This morning, howard is free on $1 million bail. But authorities say allegations from his past are now catching up with him fast. For "good morning america," ryan owens, abc news, dallas. From the disturbing to the

This transcript has been automatically generated and may not be 100% accurate.

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