A federal judge has accepted a guilty plea from former Elkhorn City Attorney, Timothy Belcher.
Belcher entered a guilty plea for his charges of bank fraud and filing a false tax return last week before a magistrate judge. On Wednesday, Belcher’s plea was accepted by a district judge. His sentencing is scheduled for November 15th.
In his plea agreement, Belcher confessed to taking money from an $816,000 insurance settlement, which had been placed into escrow for the children of a man who died in a car crash. He also confessed to using that money for personal as well as business-related expenditures, including mortgages, vacations, insurance, food, and cell phones among other personal acquisitions.
The charge carries a 33-year-long potential prison sentence, though Belcher will likely face a shorter sentence in exchange for his plea agreement. He has already agreed to pay back the $816,000 to the children and another $51,000 to the IRS.