Convicted con man Wayne Reed Ogden will spend Christmas in federal detention, according to a decision made by a federal magistrate judge on Friday.
Ogden appeared in U.S. District Court to plead not guilty to counts of mail fraud and wire fraud.
Federal prosecutors claim that beginning in 2002 , Ogden solicited people to invest money in the purchase of 360 acres in Colorado as part of an alleged Ponzi scheme. In order to cover up previous criminal activity, prosecutors say Ogden used the names "Reed Ogden" and Wayne Reed."
Soon after, angry investors began to come forward, resulting in a $9 million lawsuit against him for missing investor funds.
It isn't the first time Ogden has been accused of fraud. In 1998, a state jury convicted Ogden of bilking 500 investors, mostly his friends and neighbors, of an estimated $7 million in a Ponzi scheme.
Ogden served time in prison, but was paroled in November 2000. State prison records show Ogden had been brought back to prison on a parole violation in 2003, was paroled again in June 2005 and brought back again in October of 2006.
In court Friday, Ogden declared that he did not have enough funds to hire his own attorney.
U.S. District Magistrate Judge Samuel Alba appointed a federal public defender for Ogden. Through his attorney, Ogden requested a detention hearing before Christmas. Alba said he did not know if pre-trial services could get a report done in time and scheduled a detention hearing for Dec. 26.
Federal prosecutors moved to keep Ogden detained pending trial, saying he was an "ongoing economic threat to the community."Alba encouraged the prosecution to have witnesses present on the next hearing to testify to Ogden's economic threat.
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