A South Ogden man has pleaded not guilty to 12 counts of securities fraud and sales of unregistered stock, stemming from charges that he and an Arizona man ran an investment scam in Ogden in 1984.
During a Wednesday hearing, Robert George Johnson, 41, was scheduled for trial Aug. 22 in 2nd District Court on the securities and stock charges and an additional count of employing an unregistered securities agent.Co-defendant Blake W. Adams, 36, of Gilbert, Ariz., is scheduled to be arraigned May 31 on similar charges.
Prosecutors say that local investors lost $181,000 to the men's Johnson-Adams Corp.
Authorities contend the men promised investors they could double their investments within two months through creation of a corporation that could later be sold.
Several investors testified in a March preliminary hearing on the matter.