NEW YORK – A man extradited from Germany to face securities fraud charges for the second time has pleaded not guilty to charges that he pocketed more than $9 million in his latest investment scam.
Edward Durante of New York City entered the plea Friday in Manhattan federal court. The 63-year-old defendant was held without bail. His lawyer declined to comment.
Authorities say Durante was plotting his new scam even before his 2009 release from prison. He was released after serving most of a 10-year prison sentence for an earlier fraud.
Authorities say Durante used various aliases to hide his felonious past when he enticed more than 100 investors to pour $14 million into his schemes. Prosecutors say more than $9 million of it was funneled to Durante, his family and co-conspirators.