A South Georgia police chief was arrested Tuesday and charged with two counts of theft after allegedly purchasing a property for his business associates and charging the cost to the city.

Chief Keith Sandefur of the Cairo Police Department faces two counts of felony theft by conversion.

The property in question has since been recovered, officials said.

Agents discovered the dubious transaction in September after Cairo District Attorney Joe Mulholland asked the Georgia Bureau of Investigation to look into possible criminal activity by Sandefur.

Sandefur turned himself in to the Grady County Sheriff's Office about 1:30 p.m. Tuesday and is being held at the Grady County Jail.

Sandefur had been employed with the city police department since 1980, records show. He was promoted to police chief in 1995.

Reports say he has already submitted his resignation from the Cairo Police Department and will officially retire Dec. 31.

The investigation is ongoing.

Cairo Mayor Booker Gainor issued a statement to the media following Sandefur's arrest:

“On behalf of the City of Cairo, I am saddened to learn of the recent arrest of our Chief of Police. Chief Keith Sandefur is a well respected individual throughout our community and has been employed with the City of Cairo for 39 years and Chief of Police for 24 years. The City of Cairo does not take these allegations lightly and is fully cooperating with the investigation led by the GBI. At this time I yield questions regarding the current charges to the GBI. We thank you for your patience and cooperation at this time.”