An executive at Morgan Communities, who is one of four men named this week in an indictment alleging mortgage fraud, was arraigned in federal court in Buffalo on Thursday.
29 year old Todd Morgan, a project manager at the company headed up by his father, Robert Morgan, entered a not guilty plea on the bank and wire fraud charges. He was released on bond which was set at $25,000.
42 year old Kevin Morgan of Pittsford, the nephew of Robert Morgan and a vice president of the company, will be arraigned next Tuesday. 43 year old Frank Giacobbe of East Amherst and 34 year old Patrick Ogiony of Buffalo, were arraigned Wednesday, and also were released on bond after entering not guilty pleas.
Robert Morgan issued a statement on Wednesday saying that in light of recent events both Kevin and Todd Morgan have been suspended without pay.
Robert Morgan has not been charged in the 62 count indictment announced by the U.S. Attorney's office earlier this week.
