James Bolt, the head of the Situs Cancer Research Center in Rogers, has pleaded guilty to wire fraud, mail fraud and money laundering, according to a news release from U.S. Attorney Conner Eldridge.
The FBI launched an investigation into suspicious activity involving Situs in August 2012. Investigators found that Bolt, 60, sent documents with forged signatures and false authentication features to persuade people to send him unclaimed property and assets, according to the news release. The property and assets were being held for Community Medical Group of Corona by the state of California, which had not authorized transfer to Situs.
Bolt faces a sentence of up to 20 years for the fraud charges and up to 10 years for money laundering, according to the news release.