NEW YORK (Reuters) - A New York businessman accused of attempting to defraud Facebook (FB.O) and its chief executive, Mark Zuckerberg, out of billions of dollars pleaded not guilty on Wednesday to fraud charges.
Federal prosecutors last month charged Paul Ceglia, 39, with faking a business contract that purported to show that Ceglia owned a large stake in Facebook. Ceglia had sued Zuckerberg in 2010 claiming he was owed the stake.
Wednesday's 30-minute arraignment hearing, before Judge Andrew Carter, was Ceglia's first appearance in U.S. district court in Manhattan.
Ceglia was arrested at his home in Wellsville, New York, last month. He was later released on bail.
He faces up to 40 years in prison if convicted on the charges of mail and wire fraud.
The case is USA v. Paul Ceglia, U.S. District Court for the Southern District of New York, No. 12-mj-01171. (Reporting by Casey Sullivan; Editing by Steve Orlofsky)
Trending On Reuters
Nine months after Apple and IBM began working together on building mobile apps for businesses, some of the first fruits are about to appear at UK pharmacy chain Boots, which has begun equipping store employees with iPads to serve shoppers in the aisles. Full Article
Saudi-led air strikes target fresh Houthi advance on Aden - residents. Full Article