MADISON COUNTY, MS (Mississippi News Now) -
A Madison County man and his wife, indicted in an investment fraud scheme, made an initial appearance in U.S. District Court.
Demetrius Mathis, 49, was in handcuffs in Judge Keith Hall's courtroom Monday afternoon.
Demetrius and his wife, Jacqueline Mathis, 45, are charged with two counts of federal wire fraud and one count of money laundering in a scheme to rip off two Norwegian real estate investors in 2009.
Through his lawyer, Ross Barnett, Jr., Mathis entered a not guilty plea.
Bond was set at $10,000 and Demetrius Mathis is on supervised release from jail.
The Norwegians wired $25,000 earnest money towards the purchase of an apartment complex in Arkansas.
The indictment states Mathis diverted money from his company, USA Cash Flow, LLC, to finance his personal lifestyle.
The government is now asking Mathis to forfeit a house located on 137 Calumet Drive in Madison.
An April 2nd trial date has been set before U.S. District Judge Henry Wingate.
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