Trial set for Jan. 24 in U.S. District Court in Seattle.
Frederick Darren Berg pleaded not guilty Friday to federal charges that he ran a massive Ponzi scheme for nearly a decade that bilked investors out of more than $100 million.
Trial was set for Jan. 24 in U.S. District Court in Seattle.
Berg, a Mercer Island resident, was indicted by a federal grand jury Thursday on 12 counts of wire fraud, money laundering and bankruptcy fraud.
Prosecutors say Berg took in more than $280 million from investors for his Meridian Group of investment funds. But instead of investing the money in real-estate contracts — the funds’ purported purpose — he used it instead to finance a luxurious lifestyle, operate a high-end charter-bus company, and pay back older investors with newer investors’ funds, prosecutors say.
- Death of Evergreen senior, other player injuries renew football-safety debate
- Our state’s greatest gift to the nation just got canceled
- Clay Matthews tells Colin Kaepernick: ‘You ain’t Russell Wilson, bro’
- Seahawks Game Center: Seattle holds off Detroit Lions for 'Monday Night Football' victory
- Reaction: National media reacts to controversial call on Kam Chancellor-forced fumble in Seahawks-Lions game
Most Read Stories
Berg was arrested Oct. 21 in Los Angeles, and has remained in custody since.