Steve D. Caldwell, the former chairman and chief executive officer of the state-funded Magnolia Venture Capital Corporation (MVCC), was indicted last week by a federal grand jury on six separate charges of mail fraud, four separate charges of money laundering and one charge of corruptly soliciting money in connection with the investment bond money.
MVCC was set up to provide venture capital for Mississippi businesses.
The indictment was announced jointly by U.S. Attorney Brad Piggott, Mississippi State Auditor Phil Bryant, Mississippi Assistant Attorney General Lee Martin and FBI Special-Agent-in-Charge Stephen Dillard.
The charges against Caldwell center around what the indictment calls his…
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