Former Craighead County Clerk Jacob “Kade” Holliday is scheduled to be sentenced next month in federal court for embezzling $1.5 million in county money.
Holliday, 34, is serving time at the Arkansas Department of Corrections-Cummins Modular Unit in Grady. On the federal charge, he faces up to 20 years in federal prison, a fine of not more than $250,000, and not more than three years of supervised release. His sentencing is scheduled for Sept. 21 in front of U.S. District Judge James M. Moody Jr. in Little Rock.
If you recall, Holliday resigned from office in June 2020 after allegations surfaced that he had embezzled money from taxpayers. The bank that managed the clerk’s office account flagged suspicious activity, and auditors discovered $1.58 million had been moved to Holliday’s personal banking accounts, according to a news release from the U.S. attorney for Arkansas’ Eastern District.
It had been a shocking discovery. Holliday was elected as the state’s youngest county clerk in 2012. In 2016, Arkansas Business recognized him in its annual 20 In Their 20s feature.
In February, he pleaded guilty to one count of wire fraud for his first fraudulent transfer of $101,783 on Jan. 29, 2020.
Holliday had faced 11 counts of wire fraud, but the remaining charges were dismissed as part of the plea agreement. Holliday also agreed to pay $1.58 million in restitution to Craighead County.
In addition to taking money from taxpayers, Holliday also took nearly $14,000 from the Northeast Arkansas Leadership Business Council, a nonprofit where he was the treasurer. In state court, he pleaded guilty in November 2021 to forgery and was sentenced to 10 years in state prison. He could be eligible for parole as soon as September 2023.
Holliday also filed for Chapter 7 bankruptcy liquidation in October 2020, listing $3.8 million in debts and $1.6 million in assets. His bankruptcy remains open.