Former Chattanooga accountant Jonathan Frost is free on a $10,000 bond after he pleaded guilty to three federal financial crimes in court Wednesday.
He officially entered the plea in court before Magistrate Judge Christopher H. Steger in the afternoon. Frost, his attorney and a federal prosecutor had signed a plea agreement in January, and it was filed in court late that month.
While the magistrate judge accepted Frost’s plea of guilty to conspiracy to commit wire and tax fraud and conspiracy to commit money laundering, a federal district judge still needs to accept the plea, Frost’s attorney, Lee Davis, said by text.
Chief U.S. District Judge Travis R. McDonough is not required to accept the agreement, and he can impose a sentence more or less severe than anticipated, according to Steger. Federal prosecutor Frank Dale said that the plea agreement was approved by the Department of Justice.
In the meantime, Frost, 42, surrendered his passport, must provide a DNA sample and report to a probation officer, among other conditions, while he awaits his sentencing, which is scheduled for Aug. 7. Throughout the hearing, Steger reviewed Frost’s rights, ensured Frost entered the plea deal voluntarily and discussed rules for sentencing and bond.