MISSOULA — A Connecticut man has pleaded not guilty to wire fraud and money laundering in a Montana case.
Kenneth A. Schneider, owner of American Bridge Funding in New York, entered his pleas Thursday in federal court in Missoula.
Jeff Borchers of Missoula says he sent more than $50,000 to Schneider several years ago as an advance fee on a loan worth about $2 million. Borchers says Schneider was to arrange investors willing to lend that amount of money to a client of Borchers’, but the loan never materialized and Schneider did not return the advance fee.
Schneider’s attorney, Rick Buley of Missoula, says the case is a contract dispute, rather than a crime.