A Redding judge on Thursday postponed until Feb. 11 the trial date for former Healdsburg investment adviser Gary Armitage, who is accused of orchestrating a massive real estate Ponzi scheme.
Armitage and co-defendant James Koenig of Redding had been scheduled for trial Nov. 9. The two men face 50 and 42 counts, respectively, of financial fraud and burglary in connection with the scheme.
Defense attorneys requested the delay, citing on-going discussions with the Attorney General's Office about whether documents sought by prosecutors are protected by attorney-client privilege, according to a source familiar with the case.
Prosecutors allege the men swindled more than 2,000 investors, many of them senior citizens, out of an estimated $200 million. The men remain in custody in lieu of $5 million bail. The trial is estimated to take four months.
Jeff Guidi, Armitage's partner in the now defunct investment firm AGA Financial, reached a plea deal with prosecutors mid-way through the preliminary hearing in the spring, agreeing to cooperate with authorities, including testifying against his former partner.
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