Jim Bolt Criminal Saga Reveals ‘A Certain Amount Of Genius'

by Gwen Moritz  on Monday, Jun. 30, 2014 12:00 am  

‘Dr. Bolt’

Brooks, who inherited Bolt’s case from retiring U.S. District Judge Robert Dawson in April, acknowledged “a certain amount of genius” in the frauds that Bolt laundered through a supposed nonprofit that he operated in Rogers called Situs Cancer Research Center.

Unlike at least one of its officers, Situs actually existed. It had a facility on 1222 W. Poplar in Rogers, for which Bolt paid $660,626 in January 2013. It was among assets seized by the government and which Bolt forfeited to help pay his restitution.

He also forfeited two other pieces of real estate in Rogers, three cars, five aircrafts and three vehicles used by Situs. The vehicles and some personal property have already been sold. When the airplanes and real estate are sold, the government expects to clear about $400,000 for the victims, according to U.S. Attorney Conner Eldridge.

What went on at the Situs building was not addressed in the charges against Bolt or in his sentencing hearing. But multiple sources familiar with Situs and the investigation said cancer patients were in fact treated there by the man who answered to “Dr. Bolt” — and so were some pets.

When Arkansas Business reported in June 2013 that the FBI had raided the Situs clinic, an online comment, lacking proper punctuation, appeared under the name of a Rogers real estate agent: “I love this man and his work he has helped me beyond measure and kept me off the surgeon’s table.”

Bolt’s business card identified him as “J.W. Bolt, PhD” and “Clinical Research Director” for Situs Oncology, “a non-profit cancer research organization.” But in court last week, FBI Special Agent Robert Cessario testified that he had not been able to confirm any educational achievement by Bolt beyond a G.E.D.

Situs had been incorporated on the last day of August 2010, about six weeks before Bolt launched the first of the five schemes for which he was sentenced last week. But Situs wasn’t Bolt’s first attempt to treat cancer.

In 2006, Bolt and three of his running buddies were indicted by a federal grand jury in Fayetteville on nine counts of conspiracy and wire and mail fraud for offering to pay a hidden kickback to a stockbroker who said he could deliver a $3 million investment in their company, Shimoda-Atlantic, which supposedly was developing an oleander-based drug for the treatment of lung cancer.

The FBI sting that snared Bolt and his co-defendants — lawyer John Dodge (now deceased), Melvin Robinson and Leroy Hoback — had been run out of the Dallas metro area, and the men were prosecuted in Fayetteville by Department of Justice attorneys from Washington, D.C. Four of the counts were dropped before the trial began on Monday, March 12, 2007, and on Thursday of that week, all four defendants were acquitted of all five remaining charges.

The jury, which apparently believed the defense’s argument that the men were simply ignorant of securities regulations, never heard their claims about cancer research. Bolt’s wife, Yvonne, had died the previous month, reportedly of cancer.

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