A 54-year-old German national who has been wanted in the United States since 2007 for allegedly operating a $1.2 million Ponzi scheme on Kauai turned himself in to authorities at Honolulu Airport this morning.

Following his arrest Peter Heckmann went to U.S. District Court where he pleaded not guilty to seven counts of wire fraud.

U.S. Magistrate Judge Richard L. Puglisi set trial for May.

Heckmann agreed to remain in custody without the opportunity for bail pending trial.

The federal prosecutor had charged Heckman in May 2007 with one count of wire fraud and he was scheduled to plead guilty two months later. Heckman never showed up for the July hearing.

Later that month a grand jury returned an indictment charging Heckmann with seven counts of wire fraud.