(CBS) CHARLESTON, S.C. - Chris Latham, a former Bank of America executive, was arrested last week after authorities say he plotted with others to kill his estranged wife, Nancy Latham, CBS affiliate WCSC reports.
Latham, 50, has pleaded not guilty to conspiracy charges and has a bail hearing scheduled for Monday afternoon.
Nancy Latham called her estranged husband's arrest "absolutely heartbreaking," according to the station. "Seeing the man that I lived with and loved for so long come in shackled, it was heartbreaking," she said.
Chris Latham was reportedly arrested while on vacation in Salem, S.C. on Tuesday. The other suspects include Chris Latham's live-in girlfriend, 37-year-old Wendy Moore.
Rachel Palmer, 36, and Russell Wilkinson, 39, are also charged in the alleged plot, according to ABC News. They have all reportedly pleaded not guilty.
Another suspect, 38-year-old Samuel Yenawine, committed suicide while behind bars in June.
ABC News reports prosecutors say Chris Latham gave his accomplices a $5,000 down payment and package that included photos of his wife and her schedule. Federal agents say it was a plot orchestrated in part by Latham, WCSC reports.
The alleged plot was formed in March, but began to unravel in April when Wilkinson was stopped by police in Charleston, court documents say, according to ABC.
Officers allegedly found a gun and ammunition on Wilkinson, who told authorities about the alleged murder plot, ABC reports.
Nancy Latham told WCSC her and her children had been living in fear since she learned of the plot.
"We essentially were in hiding for close to two months and even now, I'm trying to get our lives back. It's incredibly difficult. Even when we're relaxed, we're still out in public, we always look over our shoulder. We have to be cautious, people who are approaching us," Nancy Latham told the station.
ABC reports Chris Latham had filed for a protective order against his wife earlier this year, alleging she wanted to harm him.
Nancy Latham has reportedly denied those accusations and says it's hard for her to come to terms with the fact that her one-time husband wanted to have her murdered.
"While we are relieved that my husband is being brought to task for any involvement that he had in it, it's still very, very difficult to imagine that somebody that you had been married to for 24 years would do something like this," Nancy Latham said.