Bolt Pleads Guilty to Fraud, Money Laundering Charges
by January 16, 2014 2:56 pm 165 views
Rogers businessman James W. Bolt pleaded guilty Thursday to one count each of wire fraud, mail fraud and money laundering.
U.S. Attorney Conner Eldridge said the maximum prison time for Bolt’s charges is 30 years behind bars, to be determined at a separate sentencing hearing.
“This case involves serious fraud, including forgery and a course of deceitful conduct designed to steal money from others,” Eldridge said in a news release. “Defendant Bolt has been held accountable for this criminal conduct.”
According to the news release, the FBI began investigating Bolt, 60, in August 2012, specifically suspicious activity involving Bolt’s company, Situs Cancer Research Center of Rogers.
Investigators found Bolt committed mail and wire fraud by preparing and sending fake documents containing forged signatures and false authentication features to various entities and individuals in order to persuade them to send him unclaimed property and assets from defunct companies held by the state of California for Community Medical Group of Corona Inc.
Community Medical had never authorized any transfer of its property to Situs, according to court documents.