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Billy Ivy Jr. released from jail

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A free man. A local man suspected in a murder for hire plot is no longer behind bars. Back in March, Billy Ivy, Jr. was arrested as a suspect for hiring someone to kill his wife's lover among other charges. He is now out of jail. His attorney told ABC 7 News was released Saturday.

He was scheduled to have a bond reduction hearing Monday. Court documents show his bond for two arson charges was set at $1 million, but Thursday a Randall County judge reduced that bond to $10,000.

Ivy already has paid bonds for other charges including capitol murder for hire, tampering with a witness and a weapon's charge. All the bonds together equal $2.6 million.

There are conditions to his freedom: They include electronic monitoring by GPS, having no contact with the man he is suspected of hiring someone to try to kill and he is limited to staying in Potter, Randall and Oldham counties.

Tuesday, Ivy pleaded guilty to a federal weapons charge. He had three unregistered silencers with no serial numbers. By law, silencers must be registered with a national database. He faces up to 10 years in prison and a $250,000 fine for that charge. He can remain out of jail until he is sentenced for the weapon’s charge in October.

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