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The Star Tribune reported the 51-year-old Wayzata resident wore a dress shirt and dark slacks during his appearance before U.S. Magistrate Judge Arthur Boylan.
His attorney, Jon Hopeman, entered the plea on Petters' behalf. Boylan set a tentative trial date for Feb. 9, which Hopeman says is a bit unrealistic given the amount of work to do before trial starts.
A federal grand indicted Petters and two of his companies Monday on fraud, conspiracy and money laundering charges.
The 20-count indictment alleges Petters and two of his companies defrauded investors out of $3.5 billion as part of a massive Ponzi scheme.
