Former Craighead County Clerk, Jacob Kade Holliday, has been handed a prison sentence of 57 months for wire fraud. Holliday was found guilty of embezzling over $1.5 million in county funds for personal use. In June 2020, officials discovered the theft when the bank managing the Clerk’s office account flagged suspicious activity. Investigations revealed that the missing funds had been transferred to Holliday’s personal bank accounts. Holliday, who admitted to using the money to support his businesses, was indicted in December 2020 and pleaded guilty in February of this year. In addition to his prison sentence, he has also been ordered to pay $1,579,057.03 in restitution to Craighead County.
Former Craighead County Clerk Sentenced to 57 Months In Prison for Wire Fraud
The case of former Craighead County Clerk, Jacob Kade Holliday, has concluded with his sentencing to 57 months in federal prison for wire fraud. Holliday, a resident of Jonesboro, was found guilty of taking over $1.5 million in county funds for personal use. United States District Court Judge James M. Moody, Jr. presided over the case and also imposed three years of supervised release once Holliday completes his prison term.
Indictment and Guilty Plea
In June 2020, an investigation was launched after Craighead County officials reported a theft from the County Clerk’s office. Auditors discovered that approximately $1,579,057.03 was missing and had been moved to Holliday’s personal banking accounts. Holliday admitted to taking the money to fund his businesses: Holliday Development and Management, LLC, and Total Healthcare, LLC, both of which operated restaurants and coffee shops in Jonesboro. He claimed that he intended to pay back the money but was unable to do so after the COVID-19 pandemic forced most of his businesses to close.
Holliday was indicted in December 2020 on 11 counts of wire fraud, with each count corresponding to a withdrawal he made from the county account. In February of this year, he pleaded guilty to Count 1 of the indictment, which charged him with wire fraud for his first fraudulent transfer of $101,782.97 on January 29, 2020. As part of his plea agreement, Holliday agreed to pay restitution in the amount of $1,579,057.03 to Craighead County.
Sentencing and Restitution
Judge Moody sentenced Holliday to 57 months in federal prison for his crimes. In addition to the prison term, Holliday will also be subject to three years of supervised release upon completing his sentence. The court also ordered him to pay restitution in the full amount of $1,579,057.03 to Craighead County.
Additional Charges and Sentence
It is worth noting that Holliday is currently serving a 120-month sentence in a separate state case for forgery. Judge Moody determined that Holliday’s federal sentence will not begin until he has completed serving his state sentence.
Multiple law enforcement agencies were involved in the investigation into Holliday’s crimes. The Federal Bureau of Investigation (FBI), Arkansas State Police, and Craighead County Sheriff’s Department all played active roles in uncovering the extent of Holliday’s fraudulent activities.
Prosecution of the Case
The case against Holliday was prosecuted by Assistant United States Attorney Allison W. Bragg. The prosecution team followed a meticulous process in building their case against Holliday, which ultimately resulted in his guilty plea and subsequent sentencing. The outcome of the case serves as a reminder of the United States Department of Justice’s commitment to pursuing justice for those who engage in fraudulent activities.
Theft from Craighead County Clerk’s Office
The theft from the Craighead County Clerk’s office came to light in June 2020 when county officials reported suspicious activity regarding the Treasurer’s office account. Upon further investigation, auditors discovered that approximately $1,579,057.03 was missing. It was determined that the funds had been transferred to Holliday’s personal banking accounts without authorization.
Amount of Money Missing
The total amount of money missing from the Craighead County Clerk’s office was determined to be $1,579,057.03. This substantial sum of money was unlawfully obtained by Holliday through improper transfers from the county account to his personal banking accounts.
Jacob Kade Holliday used the embezzled funds to finance his businesses. Holliday Development and Management, LLC, and Total Healthcare, LLC were both food and beverage establishments located in Jonesboro. These businesses were unfortunately impacted by the COVID-19 pandemic, leading to their closure and further complicating Holliday’s ability to repay the stolen funds.
Effects of the COVID-19 Pandemic
The COVID-19 pandemic had a significant impact on Holliday’s ability to repay the money he had taken from the County Clerk’s office. The forced closures and reduced business operations resulting from pandemic-related restrictions severely affected his businesses’ financial stability, leaving him unable to replace the embezzled funds as he had originally intended.
Outcome of the Case
Former Craighead County Clerk Jacob Kade Holliday’s case has resulted in a sentence of 57 months in federal prison for wire fraud. This significant penalty serves as a deterrent to others who may contemplate engaging in similar fraudulent activities. Additionally, Holliday’s guilty plea and agreement to pay restitution demonstrates his acknowledgment of the harm he caused to Craighead County and his commitment to making amends for his actions. The successful prosecution of this case by Assistant United States Attorney Allison W. Bragg highlights the dedication of the United States Department of Justice in upholding the law and seeking justice for crimes committed against local government entities.