Alleged Ponzi scheme operator Patrick Rakotonanahary yesterday pleaded not guilty in federal court to 21 counts of wire fraud.

U.S. Magistrate Judge Leslie Kobayashi set a June 2 trial date.

Federal authorities allege that Rakotonanahary, 34, headed a company called Cyber Market Group LLC that promised investment returns of between 6 percent and 10 percent a week and took in $10.2 million from 100 victims between December 2007 and May 2009.

The victims included 64 people from Hawai'i who invested a total of $7.79 million.

If convicted, Rakotonanahary faces a maximum of 20 years in prison and a $250,000 fine for each criminal count.