Posted 11/4/2013 05:36 pm
Updated 1 year ago
Rogers businessman James Bolt pleaded not guilty Monday afternoon to the two additional federal charges he received last week in connection with an alleged scheme to collect unclaimed property in
Bolt, 60, is now facing a total of 14 counts: two counts of money laundering, five counts of wire fraud and seven counts of mail fraud. If convicted, he faces up to 20 years, a $250,000 fine, or both, on each of the fraud charges and up to 10 years in prison and a $250,000 fine, or both, on each money laundering charge.
The new charges, handed down by a grand jury on Wednesday, are tied to "the scheme to defraud Community Medical Group of Corona Inc." of Thousand Oaks,
In 2011, Bolt allegedly created documents that made it appear his company, Situs, a "cancer research center" in
The previous counts involved a similar plan where Bolt allegedly claimed $1.9 million worth of stock listed as unclaimed property by the state of
So far, the
Bolt's attorney, Herbert C. Southern of Fayetteville, said in a court filing last week that the government has seized all of Bolt's liquid assets and Bolt "is without funds to support the expenses of counsel or other experts."
Southern asked for more time to prepare for trial, and his request was granted by U.S. District Judge Jimm Larry Hendren.
Bolt's court date, which was scheduled for Nov. 18, now is set for Jan. 13. He is being held in the Benton County Jail.
Marty Cook contributed to this report.