Chris Soules
Chris Soules, photographed at the 16th annual Waiting for Wishes Celebrity Dinner in Nashville, Tennessee, on April 18, 2017, was arrested. Getty Images

Former "The Bachelor" star Chris Soules has been charged with a felony for leaving the scene of a fatal car accident earlier this week. The reality TV star, whose net worth is estimated to be more than $1.5 million, is at the risk of losing major endorsements following the legal issues, E! News reported Friday.

"Brands with plans to work with Chris have already cut ties with him or put the relationship on hold to see how things pan out," a source told E! News. "Social media opportunities, appearances, endorsements."

The source added: "In some cases, he was in talks with the brands. In others, there were agreements in place; however, those agreements come with morals clauses."

Read: Chris Soules' Criminal Record

Soules was arrested after it was reported that he left the scene of the accident that left Kenneth Mosher, 66, dead. His mother bailed him out of jail for $10,000, and since then the former reality star has been working on his case with a new legal team out of Des Moines, Iowa. Soules’ next court date is scheduled for May 2.

Soules has reportedly hired a team from the Parrish Kruidenier firm, who are known for both civil and criminal law. Despite it being revealed later that Soules had checked Mosher's pulse and called 911 before leaving the scene, the E! News source claims it might be difficult for him to bounce back.

"He's already taken a hit and it's tough to say if he will ever recover his reputation when it comes to business opportunities," the insider said. "He has already lost thousands. Right now, brands don't want to touch him."

Iowa's Buchanan County authorities requested a search warrant Friday for the red Chevy Duramex truck, which drove Soules home from the scene of the accident. Police are yet to identify who picked up Soules from the scene.

"All affidavits, attachments, endorsement, inventories and the return of the warrant are sealed and shall not be open without order from the court, because public disclosure of facts could jeopardize the investigation, infringe in rights of person involved, and impede the administration of justice," the jury said in the request document for the sealed search warrant records.

In the 911 call recordings obtained by TMZ, Soules sounded distraught and admitted that he “rear-ended a guy on tractor.”

The 35-year-old also said that Mosher was unconscious and seemed to not be breathing when he checked him. Someone at the scene of the accident performed CPR on Mosher. Soules said that he felt a pulse after the CPR.

Attorneys representing Soules said in a statement that they "are confident that once all the evidence is made public, it will show Soules acted reasonably and did everything in his power to provide aid to Mr. Mosher."

This is not the first time Soules' has had a run-in with law enforcement. In 2005, he was arrested for Operating While Intoxicated (the term used for DUI in Iowa) after which he was fined $500, given a 60-day jail sentence, a 58-day suspended jail sentence and a year of probation. Prior to that, in 2001, Soules was charged twice for driving after consuming alcohol.