AGA hearing postponed until February

<p>The preliminary hearing for three Northern California men accused of running a vast real estate Ponzi scheme has been postponed until February. </p><p>The hearing for James Koenig of Redding and former Santa Rosa investment advisors Gary Armitage and Jeffrey Guidi was supposed to start next Tuesday. </p><p>At least one alleged Sonoma County victim in the case, Kathleen Adams of Healdsburg, was scheduled to testify at the hearing. </p><p>But Adams, who estimates she and her husband lost at least $400,000 she invested with Armitage’s AGA Financial, learned Friday the hearing has been postponed to Feb. 24.</p><p>The delay was requested by Koenig’s new attorneys, who were hired by an insurance company that covered his company, Asset Real Estate & Investment of Redding, according to an e-mail from the Attorney General’s Office. </p><p>All three men were arrested May 21, accused of securities fraud and bilking more than 2,000 investors, many of them elderly, out of more than $200 million in various land deals.</p>