Possible motive revealed in murder of Madisonville man

HOPKINS CO., KY (WFIE) - We now know a possible motive behind the murder of a Madisonville man.

The Hopkins County Sheriff's Office says interviews with the suspects and a witness have led to them to believe that there was an argument between the victim and the two suspects over missing drugs.

Detectives would not comment about how the men knew each other and say the investigation is ongoing.

The body of 24-year-old Phillip Phelps was found with multiple stab wounds in a pond in Nebo last Friday.  He'd been missing since Sunday, May 4.

22-year-old Zachary McPeak was arraigned Tuesday morning in Hopkins County District Court and a judge set is bond at $100,000.  His preliminary hearing is scheduled for Friday.

Norman Barrasi had previously been arrested in connection with Phelps' death. He was arraigned Monday morning.

Copyright 2014 WFIE. All rights reserved.