PIKEVILLE, Ky. — A federal judge has accepted a guilty plea from the former city attorney for Elkhorn City.
Timothy Belcher, 56, entered a guilty plea to charges of bank fraud and filing a false tax return before a magistrate judge last week. On Wednesday, a district judge accepted the plea and scheduled Belcher’s sentencing for Nov. 15.
In his plea agreement, he admitted to taking money from an $816,000 insurance settlement that had been placed in escrow for the children of a man who had been killed in a car crash. He confessed to using that money for his business and personal expenses, including mortgages, vacations, insurance, food, cell phones and other personal purchases.
The charges carry a potential prison sentence of up to 33 years, although Belcher will likely face a shorter sentence in exchange for his plea. He has agreed to repay $816,000 to the children, as well as another $51,000 to the IRS.