Madison man arrested for alleged investment scam
JACKSON — A Mississippi businessman has been arrested by FBI agents on 12 counts of wire fraud, tax evasion, and money laundering.
Federal authorities say 47-year-old Jeffrey L. Walker of Madison allegedly devised a scheme to defraud and obtain money from investors by making false representations relating to a Chinese resort project his companies were supposedly developing.
Federal agents said Walker allegedly had investors in Mississippi, Tennessee, Florida and Arizona make bank wire transfers to one of his companies and he converted parts of the money for his own personal use.
FBI Special Agent Daniel McMullen tells The Clarion-Ledger that Walker was arrested in Nashville, Tenn., on Tuesday.
It was not immediately known whether Walker has an attorney.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Mad Genius, Eyevox owner acquires Mississippi Film Studios
- Tragedy for Jackson Prep: Football player Walker Wilbanks dies
- Payday lender, fired executive exchanging blame for lender’s regulatory woes
- McDaniel files legal arguments as he looks to overturn Cochran loss
- UMMC reaching out after death of high school football player
- UPDATED: Jackson agrees to repay HUD $1.5 million for Farish Street blunders
- Fitch gives Mississippi Power a negative outlook due to Kemper plant
- Mississippi River mayors announce 'seed money' for waterfront developments
- Payday lender expects clean bill from regulators