Updated 10/26/2012 08:25 PM
Allegany County man charged in alleged Facebook scheme
ALLEGANY COUNTY, N.Y. — A Wellsville man has been charged in what authorities are calling a multi-billion dollar scheme to defraud Facebook and the company's founder.
Paul Ceglia was arrested Friday at his home in the Southern Tier. He pleaded not guilty in federal court to wire and mail fraud.
Federal prosecutors say Ceglia fabricated and destroyed evidence for a lawsuit in which he falsely claimed he had a 50 percent stake in Facebook.
Bail was set at $21,000, but Ceglia will spend the weekend in jail.