Judge appoints lawyer in N.D. investment fraud case

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FARGO — A judge on Wednesday appointed an attorney to represent a man accused of bilking investors out of millions of dollars in an alleged Ponzi scheme, saying the man should not represent himself while he searches for a lawyer.

Neville Solomon, 66, of Georgetown, Guyana, has pleaded not guilty to four counts, including wire fraud and conspiracy to defraud the United States. The case dates back nearly a decade, when North Dakota officials started getting questions from people who had been solicited as potential investors in bank programs that promised high returns risk-free.

Federick Keiser Jr., a Minot commodities broker, was sentenced in November 2007 to 12 years in prison as the alleged ringleader of the Ponzi scheme, which used a network of international bank accounts.

Solomon was arrested two months ago in Trinidad after eluding authorities for about 18 months. Prosecutors want Solomon to repay more than $2 million.

Solomon told U.S. District Judge Ralph Erickson on Wednesday that he wanted to hire an attorney but had not yet been able to do so.

Erickson invited defense attorney Jonathan Judd to Wednesday’s hearing and asked Solomon to meet with Judd, saying it would keep the case moving. He gave Solomon the option of replacing Judd with a different attorney if he finds one.

“It’s a complicated case. It’s a white collar crime case. There’s a lot of evidence to go through,” the judge said.

Solomon is accused of bilking investors and helping Keiser and others prepare documents to renounce their U.S. citizenship and avoid filing federal income tax returns. His trial is set for Aug. 24.

Witnesses testified during Keiser’s trial in 2007 that the group bilked investors out of more than $16 million, promising a high rate of return and using money from later investors to pay off earlier ones. An IRS investigator said he followed a trail of bank accounts and wire transfers.

U.S. Magistrate Judge Karen Klein last week denied a handwritten motion by Solomon asking to be released from jail before trial. On Wednesday, Solomon asked Erickson to review Klein’s ruling, saying he would agree to stay in Fargo if he could get out of jail.

“We can revisit that. But let’s give you a chance to talk to your lawyer and come up with a strategy,” Erickson said.

Tags: courts and crime, news, ponzi, fraud, investment