INDIANAPOLIS - A slaying-for-hire plot hatched by a native Hoosier was made after the man invested -- and lost -- a large sum of money, an Assistant U.S. Attorney said.

Assistant U.S. Attorney Joseph Bottini, out of Anchorage, Alaska, told RTV6 that Eric Grabber intended to have a person killed after making a poor investment.

Grabber, 55, is accused of hiring someone to travel from Alaska to Indianapolis on Dec. 29 to kill someone in either Indiana or Michigan. Bottini said the motive was two-fold.

"Mr. Grabber had stated that he had invested money with the intended victim and had lost a great deal of money on that investment," Bottini explained.

Bottini also said Grabber had taken out a life insurance policy on the intended victim, known only as an adult with the initials G.L.C. Jr.

Prosecutors said Grabber was to pay the killer $40,000 for carrying out the deed and even made a cell phone call Jan. 3 to ensure the killer was following through. But the slaying never happened.     

Bottini said an unusual discovery involving guns kept in Grabber's home was unearthed during the investigation of the murder plot.

"They found in his crawl space of his residence -- buried about 3 feet down in a crawl space -- a crate that contained 116 firearms," Bottini said.

The suspect does have a license to manufacture and sell weapons.

"But yeah, it's somewhat different. You don't find that every day," Bottini said. 
      
Grabber was born in Mishawaka and raised in Indiana and Michigan. 

Grabber now awaits a decision to see if he will be held in jail until his trial date. That decision could come as soon as Friday.