(CNN) -- An associate of former New England Patriots tight end Aaron Hernandez pleaded not guilty Thursday to charges stemming from the killing of 27-year-old semipro football player Odin Lloyd.

Ernest Wallace is charged with being an accessory after the fact in Lloyd's slaying in an industrial park near Hernandez's Massachusetts home.

Wallace was ordered held on $500,000 bail, according to Bristol County District Attorney Sam Sutter's Twitter feed. A full bail hearing is scheduled for September 26, "after the defense has had an opportunity to review the transcripts of the grand jury proceedings," Wallace's attorney, David Meier, told CNN.

Prosecutors say Hernandez orchestrated Lloyd's June 17 execution-style shooting. He has been charged with first-degree murder and has pleaded not guilty.

Authorities have said that Hernandez, Wallace, and a third man, Carlos Ortiz, picked Lloyd up from his Boston apartment in a rental car shortly before his death. Surveillance cameras then captured the rental car leaving the crime scene and Hernandez carrying a gun as he returned to his home minutes later. He was with two other people. Lloyd was not among them.