Posted: Feb 26, 2010 6:44 AM by Andrea Fontenot
Source: Associated Press
A 61-year-old Ponchatoula businessman accused of bilking more than 200 investors out of $11 million has pleaded not guilty to various charges related to running the alleged Ponzi scheme.
William Chaucer entered his plea Thursday to one count of failing to register to sell securities and 20 counts of making material misrepresentations in the sale of a security before ad hoc State District Judge Clayton James in Amite.
State authorities have said Chaucer used money invested in his loan companies to pay for more than $400,000 in Mardi Gras expenses, $5,500 worth of cosmetic surgery and thousands more for his wife, Cheryl, to compete in pageants.