A Bell County man has entered into a plea agreement with the Commonwealth’s Attorney in an August embezzlement case.
Mike Jones, 49, of Pineville, arrested Aug. 15, 2014 and charged with embezzling $250,000 from Bingham Tire and Oil, was offered a plea deal from the Commonwealth’s Attorney on Dec. 3 in Knox County Circuit Court.
Court records say the Commonwealth’s Attorney recommended a one-year diverted sentence plus three years probation. Jones has also been ordered to pay restitution to the Binghams. Restitution is ordered to be paid as follows: $10,000 to be paid at final sentencing and $115,000 paid by June 8, 2015. The total amount of restitution of $125,000 is to be paid on or before June 8.
If Jones fails to pay by June 8 or has any probation violation in the next three years, he will be subject to have the diverted year revert to a full county year of incarceration. Jones’s final sentencing will be Jan. 23, 2015, at 1 p.m.