Financial adviser Richard Webb has been charged with 29 counts of fraud at Salisbury Magistrates Court, according to local media.
Prosecutor David Foster said the defendant is accused of defrauding more than 20 victims of just over £5m ($6.2m, €5.7m) by encouraging them to invest into an alleged scheme.
Webb gave no indication of pleas in relation to the charges at the court on 13 January 2023.
“There is no indication to any of the charges at this stage”, defence solicitor Andy Lee told the court.
Foster asked the case to be sent to the crown court.
The case was adjourned until 15 February 2023 at Salisbury Crown Court. Webb was granted unconditional bail.