The special grand jury met Thursday morning and handed down the presentments.
According to court records, Baskette faces 40 counts of failure to deposit public funds in a timely manner, two counts of official misconduct, two counts of theft of property over $60,000, but not more than $250,000, passing worthless checks between $1,000 to $2,500 and destruction of government records.
Baskette was booked into the Hamblen County Jail. He subsequently made a $100,000 bond, officials said.
Baskette’s attorney, Richard Talley, could not be reached for comment.
A Hamblen County audit, released earlier this year, first indicated that Baskette was responsible for possible non-criminal money management violations. The state comptroller’s office then launched a more detailed investigation.
The Tennessee Bureau of Investigations performed a parallel investigation and that investigation uncovered possible criminal charges, officials say.
That investigation ultimately led to the grand jury presentment Thursday.
Baskette has been under scrutiny after multiple lawsuits were filed related to personal business dealings.
District Attorney General Dan Armstrong had offered Baskette an opportunity to plead guilty to lesser charges and step down. Baskette declined to accept the offer.
Earlier Hamblen County Mayor Bill Brittain said that, by law, an indictment would not be enough to have Baskette removed from office. Baskette must be convicted before the County could have him removed, he said.