The Clarion-Ledger • November 2, 2010

http://www.clarionledger.com/article/20101102/NEWS/101102029/FBI+arrests+Madison+businessman

A Mississippi businessman was arrested by FBI agents in Nashville Tuesday on 12 counts of wire fraud, tax evasion, and money laundering.

FBI and IRS officials said Jeffrey L. Walker, 47, 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, Charter Resources International and Sterling Group Holdings, Inc., were supposedly developing.

Mississippi FBI Special Agent in Charge Daniel McMullen and IRS Special Agent in Charge James Lee said in a release issued today that Walker, a former NFL football player, caused investors in Mississippi, Tennessee, Florida and Arizona to make interstate bank wire transfers to one of his companies and he converted parts of the money for his own personal use.

To further the scheme, the indictment alleges that Walker sold shares in Charter Resources International and executed joint venture agreements between companies, in which he held a controlling interest.

Walker will make his initial appearance in the United States District Court of the Middle District of Tennessee. It is expected that extradition proceedings will commence and that Walker will be returned to Mississippi to face these charges against him.