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Man on probation for fraud indicted

Grand jury says man who defrauded couple of $58,000 cheated seven more in ongoing scheme

Web posted May 2, 1998

By S.B. Crawford
Columbia County Bureau

APPLING -- A Martinez man on probation for his role in a crooked investment scheme was indicted this week by a Columbia County grand jury for allegedly defrauding seven other people in an ongoing criminal enterprise.

James H. Sarver III, 39, of the 4400 block of Forrest Drive is charged with racketeering, as well as multiple counts of theft by taking and selling of unregistered securities by an unregistered dealer.

Authorities allege Mr. Sarver persuaded victims to invest money in his two companies, Prosperity Financial Services Corp. and Brento Inc., promising substantial returns in short periods of time.

Despite repeated promises of payment, Mr. Sarver failed to return any of their money, according to police reports.

Investigators estimate the total amount Mr. Sarver received from the seven victims to be about $75,000, said sheriff's Capt. Steve Morris.

After Mr. Sarver's arrest Sept. 8, 1997, on charges of deposit account fraud, investigators compiled additional charges.

While Mr. Sarver was serving a sentence of 10 years probation for a previous crime with similar circumstances, a request by prosecutors to revoke his probation was denied by Superior Court Judge Albert M. Pickett on Sept. 17.

However, since his arrest, he has been held at the Columbia County Detention Center on bonds totaling $358,299.

In March 1995, Mr. Sarver was sentenced to probation after pleading no contest to charges he defrauded a Columbia County couple out of $58,000.

As part of his sentencing agreement, Mr. Sarver paid the money back to the victims in order to avoid incarceration.