Autauga man indicted in $4 million fraud scheme

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An Autauga County man has been indicted in connection with an $4 million-plus real estate investment scheme.

Attorney General Steve Marshall announced the indictment of James Dean Bulger, 56, on three felony charges, including first-degree theft of property, aggravated theft by deception and first-degree financial exploitation of the elderly.

The indictment was served Friday at the Montgomery County Jail, where Bulger is currently being held on a $1.5 million cash-only bail, the AG's office said in a release.

On Feb. 17, the AG's Office Special Prosecutions Division presented evidence to a Montgomery County Grand Jury which resulted in Bulger’s indictment on the three charges. The first count of the indictment charges that Bulger knowingly obtained all or a portion of $4 million from Pike Road Investments LLC, court records show. Count two charges that Bulger knowingly obtained, by deception, control of more than $200,000 in cash from another person. And count three charges that Bulger intentionally used deception to obtain an elderly person’s property, which exceeded $2,500 in value.

The theft charge and the financial exploitation charge are Class B felonies punishable by two to 20 years in prison for each charge and a fine of up to $30,000 per offense. The aggravated theft by deception charge is treated as a Class A or Class B felony and is punishable by five to 30 years in prison and a fine of up to $60,000.

In September 2000, Bulger and two others were indicted in Autauga County in connection with an arson/insurance fraud case. Bulger was charged with theft of property and arson and was later convicted of both charges and sentenced to 20 years in prison. The case revolved around the arson of his home, located about 5 miles north of Prattville.

Prosecutors, during trial, told the jury that the home was "built to burn," and that Bulger removed most of the items from the home before setting it afire and then claiming full loss value on his insurance policy.

Contact Montgomery Advertiser reporter Marty Roney at mroney@gannett.com.

This article originally appeared on Montgomery Advertiser: Autauga man indicted in $4 million fraud scheme