Former Atlanta CFO pleads guilty in corruption case, faces 13 years in prison

ATLANTA — A former chief financial officer for the city of Atlanta admitted Thursday to using thousands of dollars in taxpayer funds for personal use including to buy two machine guns.

Channel 2 investigative reporter Ashli Lincoln was in the courtroom when Jim Beard pleaded guilty.

She said Beard’s demeanor was calm during Thursday’s hearing as he spoke admitting to misusing taxpayer money and it was revealed in court a lot of that money was used for expensive trips with a companion.

“In this case, the plea agreement capped the maximum of jail time to 13 years, the charges dismissed, the three charges, that had 20-year statutory maximum so there’s 60 years of charges right there that got dismissed,” federal defense attorney Brian Mendelsohn said.

Beard and his attorney declined an interview with Lincoln, along with the A.S. Attorney’s Office.

“It’s really an uphill battle when you got the receipts and some of the documents clearly show that he’s planning expenses that weren’t legitimate,” Mendelsohn said.

Beard admitted to the judge of misusing taxpayer money and using unauthorized tax deductions.

Federal prosecutors stated Beard used funds from federal grants to purchase automatic rifles worth nearly $3,000.

In 2015, prosecutors said he later abandoned the weapons at an Atlanta police precinct.

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“The problem he’s got is he’s a public official and the judges are often wanting to send a message when you have public officials,” Mendelsohn said.

And some of the trips included a three-night stay in Chicago for his stepdaughter to attend a music festival and a trip with a companion to a jazz festival in New Orleans.

Prosecutors say there were also stays at the St. Regis Atlanta Hotel where he paid hundreds of dollars’ worth of room upgrades including a rose petal turndown service.

Beard was Atlanta’s former chief financial officer from 2011 to 2018 -- initially serving under former Mayor Kasim Reed.

Federal prosecutors have been combing through millions of documents related to conspiracy, bribery and tax-related crimes since 2017.

Channel 2 Action News has reported at least seven former city employees and two contractors were either convicted or pled guilty for their role in either accepting or issuing bribes.

“In this case, it seems like it was the lower thousands of dollars that was taken as opposed to hundreds of thousands so that certainly works in Mr. Beard’s favor,” Mendelsohn said.

Beard agreed to pay a restitution amount that will be determined during his sentencing on July 12. He faces up to 13 years in prison.

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