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Not guilty plea entered by Frank Bagniefski

GREEN BAY, WI (WTAQ) - A man accused of defrauding more than $150,000 from investors pled not guilty Monday.

Frank Bagniefski is facing nine counts of theft by false represenation.

He was employed by First Rate Lending, but investigators say he misled people to invest in a fake business he created. Officials at First Rate Lending were unaware of the fraud.

According to online court records, Bagniefski returns to court on December 20. No trial date has been set.