James W. Bolt, 61, of Rogers, has been sentenced to 100 months in federal prison for a $2.5 million fraud scheme, the U.S. attorney’s office announced.
Bolt, who’d pleaded guilty in January, was also ordered to make restitution, though it’s unclear what assets he might have.
Bolt, operating under a company known as Situs Cancer Research Center, devised a scheme using wire transfers and fraudulent mailed donation agreements to obtain unclaimed money from the state of California. He used the money to buy vehicles, airplanes and office building and home. The victims included a holding company that managed 401K retirement plans and money in the estate of a deceased Nevada woman. He was indicted in 2013 for wire fraud, mail fraud and money laundering.