J. Gary Sheets, the former investments prodigy now charged with 34 felony counts of fraud, embezzlement and other crimes, has waived his right to have a trial within 70 days of his first appearance in court.

U.S. District Judge David Sam accepted motions by both Sheets' lawyers and the government asking to waive the deadline of the Speedy Trial Act."The case is so complex, due to the nature of the prosecution, that it is unreasonable to expect adequate preparation for the trial itself within the time limits established by the act," Sam wrote.

Both sides now agree the trial may begin at 9:30 a.m. Feb. 21.

Sheets was indicted by a federal grand jury in Salt Lake City on Oct. 19, charged with mail fraud, interstate transportation of money obtained by fraud, embezzlement from pension plans and security fraud.