A suspected embezzler from Searcy who is accused of faking his drowning has been arrested by U.S. Marshals in South Dakota.

Forty-two-year-old Matthew Alan Sheppard was picked up in Yankton, South Dakota, on felony fraud and embezzlement charges.

On February 17th, Sheppard's wife reported her husband fell into the 39-degree water of the Little Red River near Heber Springs after trying to grab his dog's collar.

Rescuers worked for two days to find him, with no results.

The Marshals Service says Sheppard disappeared shortly after he found out his employer, Eaton Corporation, wanted to speak to him about discrepancies in his expense report. Authorities say Sheppard is suspected of stealing $40,000 from Eaton.