The owner of a Colonie butcher shop is accused of intentionally setting his business on fire last year.

The fire happened on June 8, 2023 around 5 a.m. at Big Body Butcher Shop at 2008 Central Ave. The business had extensive damage and never reopened. Investigators determined it to be suspicious.  

Colonie Police said Cody Shields, 33, of Argyle, had significant outstanding debt related to the business. The motive appears to be financial, investigators said.

In addition, Shields is facing larceny charges for some of his business dealings.

Police told NewsChannel 13 that investigators became suspicious because of inconsistencies in the version of events Shields told different people. The fire investigation also revealed different details.

Shields also owed his landlord and customers a significant amount of money and seemed to lack the ability to pay, police said.

Shields did not collect any insurance money after investigators determined that the fire was suspicious, police said.

He was charged with arson, two counts of grand larceny and three counts of petit larceny. The larceny charges stem from his allegedly failing to pay vendors for goods supplied and not fulfilling orders for customers, police said.

Shields was arraigned Wednesday in Albany County Court and released on his own recognizance.

The investigation is ongoing and anyone with information is asked to call Colonie Police at 518-783-2754 or anonymously through Capital Region CrimeStoppers at 1-833-ALB-TIPS, or capitalregioncrimestoppers.com.