Kade Holliday, the former Craighead County clerk, made a commitment of $500,000 to establish jazz studies programs at Arkansas State University. That was before he was accused of embezzling $1.6 million from the county, which is suing to get its money back.
Less than a month after former Craighead County Clerk Jacob “Kade” Holliday agreed to pay $1.4 million to the county to settle a civil lawsuit over allegations of embezzlement, the 32-year-old filed for Chapter 7 bankruptcy.
Holliday listed $3.8 million in debts and $1.6 million in assets, according to his Oct. 1 filing in U.S. Bankruptcy Court.
His main asset is his $299,000 Jonesboro home, on which he owes $299,000. Other property includes a 2008 Cadillac Escalade with an estimated value of $60,000, the same amount he owes on it. He reported in the filing that the vehicle will be surrendered to the creditor.
His listing of his household goods and furnishings give a peek into his lifestyle. He owns a Brunswick table with accessories, valued at $5,500. (We’re assuming it’s a pool table, but the filing didn’t say that specifically.) His guest bedroom furniture suite was valued at $1,500. A 12-foot Christmas tree and its trimmings were listed at $500. His two electric humidors were valued at $500. He valued his Klipsch speaker system at $8,000.
Holliday, who was elected as the state’s youngest county clerk in 2012, appeared to like video games too. His asset list included an XBox One, valued at $225, and a Sony PlayStation 4 kit with virtual reality, valued at $1,250. Other hobbies appear to include collecting Lego sets and related items, which were valued at $3,240.
Other collectables included the Pappy Van Winkle alcohol collection, valued at $10,000.
Holliday’s alma mater, Arkansas State University at Jonesboro, also makes an appearance on his list of property. Holliday reported having a Red Wolf pin and collectables valued at $1,075.
You may recall that, in September 2019, Holliday pledged $500,000 for a professorship and scholarship in jazz studies at the university.
Holliday listed three Bach trombones that were valued at $6,000 in his bankruptcy filing. He also displayed an interest in exercise. He listed a Peloton bike, valued at $2,500, and various other workout equipment valued at $375.
Other Businesses
In addition to Holliday’s job as county clerk, he reported owning Sigma Foods Group LLC of Jonesboro, which did business as Edge Coffee House. Interest in that company was valued at $800,000. He also was the 100% owner of Holliday Development & Management LLC of Jonesboro, which had no value.
He listed a 35% interest in Total Healthcare LLC of Jonesboro, which operated as Twisted Foods, and he valued that at $150,000. He also purchased a 40% ownership in a clothing store, Infinite Blazer LLC of Jonesboro, for $80,000 in 2020.
After allegations surfaced in June that Holliday embezzled more than $1.6 million from taxpayers, Craighead County sued him to get its money back and he was charged with felonies.
Last month, Holliday settled the civil suit with the county and agreed to repay $1.4 million. (The lawsuit said that Holliday repaid $168,000 of the $1.6 million before the theft was discovered.)
Holliday also has been charged criminally with 13 counts of theft, one count of abuse of office and one count of forgery. Holliday has not entered a plea, and his next court appearance is set for Oct. 29.
His bankruptcy filing shows that he owes $603,000 on a line of credit at First National Bank of Paragould.
Holliday reported in the filing that he was unemployed and receiving $600 a month in family assistance.
From Jan. 1 through Oct. 1, he earned $21,000. In 2018 and 2019, Holliday earned about $60,000 in wages each year. He also received $6,000 in rent in 2018 and 2019. This year, however, he received $16,200 in rent payments.
His bankruptcy filings show that Holliday didn’t keep all the money he allegedly stole. During the year, he gave $30,000 to the Arkansas State University Foundation. He also reported giving $6,000 to the Delta Symphony Orchestra of Jonesboro and $6,500 to the Junior Auxiliary of Jonesboro during the year.
Holliday’s bankruptcy attorney, Walden M. Cash of North Little Rock, didn’t return a call from Whispers.
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