He’s ready for his punishment but wants out of jail.

Billy Ivy, Jr. will remain behind bars a little longer after his bond reduction hearing on arson charges is postponed.

Information we reported to you in an exclusive report last night is the main reason for the postponement.

Even though Ivy is in the Randall County jail he is technically still in federal custody and was not transferred in time.

Court documents show Ivy is prepared to plead guilty to one federal count of possession of an unregistered firearm.

It was during his bond reduction hearing today that one of Ivy’s attorneys told the judge his client is making the plea so that he could begin accepting the punishment.

Yet, Ivy’s attorneys are still trying to get his bond reduced on the arson charges which would make it easier to bond out of jail.

If he does bond out, Ivy would not be able to shave off any time from his upcoming federal sentence if he’s not behind bars.

He is expected to make the formal plea next week with sentencing coming at a later date.
Ivy faces up to 10 years in prison on the gun charges which is just the beginning.

He is also been arrested on three other occasions on charges of attempted capital murder where he is accused of hiring someone to kill his wife’s boyfriend, as well as arson and tampering with a witness, both in connection with the murder for hire case.

It appears like the prosecution is trying to keep Ivy behind bars. In fact, during a bond reduction hearing last month in federal court an investigator told the judge Ivy was a flight risk.

In that testimony, they implicated Ivy in the murder of Charlesetta Telford last summer and the disappearance of Nikki Moore late last year.

Ivy’s bond reduction hearing has been moved to Monday, July 17.

One other note. Ivy’s attorneys Frank Sellars and Dan Hurley also defended another high profile client in a murder for hire trial. They represented Amarillo Dr. Mike Dixon who is currently serving life in prison for the 2012 capital murder of a Lubbock pathologist.