Rogers Businessman James Bolt Charged With 12 Counts of Fraud, Money Laundering

by Gwen Moritz  on Tuesday, Sep. 3, 2013 4:19 pm  

James W. "Jim" Bolt, in mug shots taken at the Benton County jail, where he has been held on a federal criminal complaint since Aug. 29.

U.S. Attorney Conner Eldridge of the Western District of Arkansas intends to issue a statement Wednesday morning concerning the charges against Bolt, his assistant said.

The complaint unsealed Tuesday is not Bolt's first encounter with the federal justice system. In 1982, he was convicted in federal court in Oklahoma on two counts of mail fraud and two counts of making false statements to a federally insured bank. He spent more than two years in federal prison.

In 2007, Bolt, his lawyer (the late John Dodge) and two other men were acquitted by a federal court jury of fraud charges related to their attempts to find investors for a Rogers company called Shimoda-Atlantic, which was looking to fund clinical trials of a cancer treatment.

In 2002 and 2003, Bolt was chief operating officer of a penny stock company in Springdale first called Golf Entertainment and then Sienna Broadcasting Corp. Reporting on the company by Arkansas Business and the Northwest Arkansas Business Journal prompted a libel suit against the newspapers.

While the libel suit was ultimately dismissed, Arkansas Business Publishing Group did win a $92,000 judgment against Bolt, his lawyer and three companies they incorporated for infringing on ABPG's trademarks. The judgment has never been paid.



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