Jim Bolt Seeking Release From Jail While Awaiting Sentencing In Fraud Case

James W. Bolt

James W. Bolt

Tuesday, April 29, 2014

Jim Bolt wants out of jail while awaiting sentencing on federal mail and wire fraud convictions related to his purported alternative cancer treatment clinic in Rogers.

Bolt, 60, pleaded guilty to one count of wire fraud, one count of mail fraud, and one count of money laundering in a plea bargain with prosecutors. He is set to be sentenced June 25 in Fayetteville.

LEGAL LINGO

Detention Hearing

A detention hearing in federal court is much like a bail hearing in state court. The court determines whether to detain the defendant without bail. If bail is appropriate, the court decides which conditions, such as a particular amount or government monitoring, will ensure the defendant will show up for court appearances. The judge will consider if the defendant’s release will compromise the safety of any particular person or the community at large.

Source: nolo.com

Bolt was denied bond in September after a magistrate found he was a flight risk, in part because a bag was found in his home containing his and his son's passports, $8,000 cash and other belongings.

There also were questions about what, if any, role Bolt may have had in the death of Missouri resident Jack McCain. McCain was found dead on a rural road in McDonald County. Bolt has asked for another bond hearing, saying he is not suspected of any involvement in the death and could become a cooperating witness for the state in the case.

Bolt said he wants out of jail to care for his elderly mother, who he said has stage 4 lung cancer and recently fell and broke a hip.

Bolt pleaded guilty to crimes of a nonviolent nature and poses no danger to the community, according to the motion filed by Bolt's attorney, Drew Miller.

Finally, Bolt contends his assets have been forfeited, meaning he does not have the money to travel or flee.

Magistrate Erin Setser set a Friday hearing to consider the motion.

The FBI launched an investigation into suspicious activity involving the Situs Cancer Research Center in August 2012. The investigation revealed Bolt committed mail and wire fraud by preparing and sending fraudulent documents containing forged signatures and false authentication features to various entities and individuals to persuade them to send him unclaimed property, money and other assets from defunct companies.

The government contends Bolt took more than $2.5 million from Community Medical Group in California and at least two other companies.

Bolt faces a maximum sentence of 20 years for fraud, up to 10 years for money laundering and fines.

Bolt agreed to pay full restitution to all victims, including those in counts that will be dismissed. The judge will determine the amount of restitution. Bolt also agreed to help identify assets transferred to third parties.

In the plea agreement, Bolt agreed to forfeit three properties prosecutors said were purchased with money derived from mail fraud, wire fraud and money laundering. The properties are 1222 W. Poplar St., 1204 W. Poplar and 303 S. Rife St., all in Rogers.

Bolt also forfeited two mobile medical units, a box truck, an Airstream recreational vehicle, two Volvo sport utility vehicles, a Suburban-style vehicle, a Toyota pickup, four airplanes, $8,900 cash, $111,971 from a bank account and other items.

NW News on 04/29/2014