Fourth Judicial Circuit District Attorney Michael Jackson and Joseph P. Borg, director of the Alabama Securities Commission, announced Jerome Yelder, formerly of Dallas County, was arrested at his home in Columbia, S.C. June 27 by officers with the Columbia Police Department’s warrant division with assistance from the Dallas County Sheriff’s Department.

Yelder, Jackson said, is the former director of the Selma-Dallas County Boot Camp. He also said Yelder will appear in court within the next few months.

“He’ll be coming up in Circuit Court for arraignment,” Jackson said.

Yelder waived extradition and was transported to the Dallas County Jail with a bond set for $51,000.

An investigation conducted by ASC Enforcement Division personnel led to an indictment being returned against Yelder by a March 2010 session of the Dallas County Grand Jury alleging one count each of Sale of unregistered security and sale of security by an unregistered agent; three counts of fraud in connection with the sale of securities; one count of theft by deception first degree and two counts of theft by deception second degree.

The ASC investigation into Yelder’s actions revealed that he was listed as president and CEO of The Yelder Group LLC, Inc. in Selma in January of 2008.

Yelder allegedly solicited funds from an Alabama resident and issued promissory notes totaling $6,600 to the resident in the name of the Yelder Group, LLC and The Yelder Institute.

The businesses allegedly had a represented business purpose of providing rehabilitation services to at-risk youth, adults and substance abuse offenders.

Further investigation revealed that Yelder was to have established a residential school-like setting to provide these services.

However, there was no indication that such programs were ever established in the Dallas County area and further financial analysis showed that the invested funds were not used as represented.

It was also revealed that the principal investment has yet to be repaid, as called for in the promissory notes, and the investor has realized no return.