MONTGOMERY, AL – Alabama Attorney General Steve Marshall announced today that James “Jimmy” Bulger has been found guilty by a Montgomery County jury on three felony counts: first-degree theft by deception, aggravated theft by deception, and first-degree financial exploitation of the elderly.
The verdict follows a six-day trial during which the jury heard evidence that Bulger operated a Ponzi-style scheme targeting an elderly victim. Over a period of more than two years, Bulger convinced the victim to reinvest what were presented as profits but were in fact the victim’s own funds, totaling $8.4 million. Testimony indicated that Bulger used the funds to support a lavish lifestyle, which included luxury cars, high-end purchases, and the construction of a large residence.
The prosecution also introduced evidence that after his indictment, Bulger attempted to persuade the victim to drop the charges in exchange for $1 million.
“This wasn’t a lapse in judgment, it was a calculated, predatory scheme that stole nearly $9 million from an elderly man who trusted him,” said Attorney General Marshall in a public statement. “James Bulger saw vulnerability and exploited it for personal gain, living lavishly while destroying his victim’s financial future. His conviction is a powerful reminder that we will not hesitate to hold con artists and manipulators accountable, especially when they target our seniors.”
The case was prosecuted by the Attorney General’s Special Prosecutions Division. Assistant Attorneys General Kyle Beckman, Alana Cammack, and Jasper Roberts led the prosecution. The Attorney General also thanked the Alabama Home Builders Licensure Board, Special Agent Robert Stuart, and other support personnel for their contributions to the case.
Sentencing for Bulger will be scheduled at a later date.
