Former Atlanta CFO Jim Beard pleads guilty in corruption case

Atlanta’s former chief financial officer, Jim Beard, pleaded guilty in a federal case last week, admitting to the misuse of tens of thousands of dollars in city funds for personal travel and the purchase of two military-grade machine guns. Appearing before a federal judge in Atlanta, Beard pleaded guilty to one count of federal program theft and one count of obstructing IRS laws, potentially facing up to 13 years in prison. Beard, 60, faces significant prison time and fines for his actions.

Beard also agreed to pay restitution, the amount to be determined during his sentencing scheduled for July 12. Additionally, he agreed to forfeit the military grade machine guns he purchased with city funds.

When asked by the judge to articulate what he was pleading guilty to, Beard said “The (theft) charge basically says that I took money or property from the city of Atlanta or some other entity somehow related to the city. The other charge is that I took tax deductions that I was not authorized to take.”

Prosecutor Trevor Wilmot outlined how Beard used Atlanta’s funds, including federal grants, for personal expenses such as travel and firearms. These expenses ranged from a three-night hotel stay in Chicago for his stepdaughter’s music festival to a trip with a companion to a jazz festival in New Orleans.

Wilmot further explained that Beard falsely claimed business losses on his tax returns, including travel expenses that were paid for by the city. Beard’s case was part of a broader corruption probe into Atlanta’s City Hall, which led to the sentencing of multiple city officials and contractors. He was indicted in 2020 on various charges, but several were dropped as part of the plea deal.

Despite Beard’s attempts to suppress evidence and exclude certain information from the trial, the judge denied his requests. The Prosecution presented evidence of Beard’s infidelity and misuse of city funds for personal trips and luxury accommodations, including upgrades and private dining. 

Beard’s case was part of a yearslong Atlanta City Hall corruption probe that brought multiple city officials and contractors before U.S. District Judge Steve C. Jones. Eight defendants were sentenced to prison. Beard was the last defendant facing trial. 

In 2019, Atlanta’s ethics division ordered Beard to pay more than $100,000 in fines and restitution.