John Rogers' booking photo.
Alleged serial fraudster John Rogers will be released from the Pulaski County Regional Detention Facility today after agreeing to cooperate with First Arkansas Bank & Trust of Jacksonville, a source close to the matter told Arkansas Business.
Rogers was arrested Wednesday evening for contempt of court for failing to heed two court orders to fully respond to discovery requests and file an affidavit of assets.
Rogers was required to provide the information to the bank in connection with its collection efforts on a January default judgment against him that has grown to $15 million.
The 42-year-old sports memorabilia and photo dealer was to be held in jail until appearing at a 9 a.m. hearing on Monday before Pulaski County Circuit Judge Tim Fox.
But documents for Rogers’ release and the cancellation of the Monday hearing were filed with the court Friday morning.
On May 1, Rogers agreed to an order to provide asset information to the bank within 30 days or be found in contempt of court. He later unsuccessfully attempted to thwart an arrest by invoking his Fifth Amendment right against self-incrimination in a belated response to the agreed court order.
Rogers has drawn a series of fraud allegations by banks, business associates, clients and investors involving bogus transactions and counterfeit sports memorabilia. Not counting requested punitive damages by some angry creditors, financial claims against him and his business ventures total about $50 million.
In addition to these legal problems, Rogers is the subject of criminal investigation that erupted into the public when FBI raided his office and home on Jan. 28, 2014.
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