Posted 4/28/2014 12:00 am
A drama of special interest to your Whispers crew is moving toward its denouement: James W. Bolt — aka Jim Bolt and Jimm Bolt — is scheduled to be sentenced in federal court in Fayetteville on June 25.
Bolt, of Rogers, was a businessman only in the loosest sense of the word. Arkansas Business first became acquainted with him when he was operating a pump-and-dump stock scheme a dozen years ago. He was later acquitted when federal prosecutors charged him and his entourage of an investment kickback scheme.
He operated at least two “businesses” that claimed to treat cancer.
Last year he was finally caught dead to rights in a ridiculously complicated and temporarily successful scheme to claim millions of dollars worth of unclaimed property held by the state of California.
And this time, the federal magistrate wouldn’t even let him remain free while awaiting sentencing. He’s been in jail — first in Benton County, now in Washington County — since August.
In January, he pleaded guilty to one count each of wire fraud, mail fraud and money laundering.
His case, originally assigned to retiring U.S. District Judge Robert T. Dawson in Fort Smith, has been reassigned to U.S. District Judge Timothy L. Brooks in Fayetteville.