Williams is expected to plead guilty to two counts of reckless homicide during a change of plea and sentencing hearing.
In a negotiated plea agreement signed by Williams and his defense attorneys, David Hunter and Roy Graham, as well as Greene County Prosecutor Jarrod Holtsclaw, Williams agreed to plead guilty and the state agreed to drop the only other count filed against him, reckless driving, a class B misdemeanor.
The agreement does not suggest a possible sentence but says sentencing will be left to the discretion of the court.
Reckless homicide is a class C felony.
Under Indiana law, the sentence range for reckless homicide is from two years up to eight years with a possible fine of up to $10,000. Williams could be ordered to serve the two sentences consecutively or concurrently.
The crash occurred around 7:45 p.m. on May 9 on State Road 43, south of County Road 525N, north of Solsberry. Williams was southbound in a black Camaro, and 19-year-old Jessica Allman of Bloomington was a passenger in his car. Jerry Marker, 40, Solsberry, was northbound on a motorcycle.
Williams, then 19, Bloomington, was accused of pulling into the left lane, shifting his car into third gear and accelerating to a high rate of speed to pass another vehicle while going up a hill in a no passing zone.
Williams' Camaro hit the oncoming motorcycle head-on in the northbound lane then skidded off the highway, overturned, rolled down an embankment and landed upside down. Both the car and the motorcycle caught fire upon impact.
Marker was pronounced dead on the scene. Allman was pronounced dead at Bloomington Hospital.
Criminal charges were filed against Williams less than two days after the crash following the initial investigation by the Greene County Sheriff's Department (GCSD).
A bench warrant was issued, Williams turned himself in and was released after posting 10 percent of a $20,000 bond.
The car that Williams was passing was a silver Toyota Supra driven by Jeffrey R. Adams, 37, of Solsberry. The two cars were allegedly racing at the time of the crash.
In July, Adams was also arrested and charged with two counts of aiding in reckless homicide, both class C felonies, criminal recklessness with a deadly weapon, a class D felony, and reckless driving, a class B misdemeanor.
Adams was released from jail after posting 10 percent of a $24,500 bond.
Adams allegedly challenged Williams to race and traveled at an excessive rate of speed on the highway, then accelerated when Williams attempted to pass him on a dangerous stretch.
A probable cause affidavit claimed Adams was inconsistent in his own accounts of his actions and that his statements were not consistent with the accounts given by several witnesses.
It also alleged the actions of Adams "aided, induced or caused Preston Williams to engage in the reckless driving behavior that resulted in this crash and the deaths of Jessica Allman and Jerry Marker."
Adams is scheduled to stand trial by jury on Jan. 12.
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