FARGO, N.D. (AP) - The federal trial has started for a Minot man accused of bilking millions of dollars from people through investment schemes.

Frederick W. Keiser Jr., 63, plans to defend himself in a trial in which he faces charges of wire fraud, money laundering, conspiracy to launder money and conspiracy to defraud the United States by not paying taxes.

"I believe and intend to show I'm innocent," Keiser said Monday after reading the U.S. Constitution's preamble to jurors in Fargo's federal court.

Keiser described himself as a husband of 44 years, grandfather of seven and a farmer who was named the Jaycee's outstanding young farmer in 1976. He said he served on the Berthold City Council, his church's board and the Lion's Club.

Federal prosecutors have a different picture of him

"This is a case of greed and dishonesty," said Assistant U.S. Attorney Jennifer Puhl. "As the money began to roll in, the lies began to pile up."

Puhl described how Keiser, along with at least two other men, set up "mythical" investments and solicited money for programs guaranteed to keep their money safe while earning high returns.

Court papers claim Keiser set up his first "prime bank scheme" in July 1999. More than 200 investors gave him $2 million to invest in the trading program.

The North Dakota Securities Department opened an investigation and ordered Keiser to stop the scheme. In October 2001, Keiser agreed to pay $500,000 restitution to settle the case.

But Puhl said Keiser began another scheme about the same time and some of the investors' money went to pay his settlement with the state.

Keiser failed to pay his federal taxes from 2000 to 2005, claiming he had denounced his U.S. citizenship and was "solely a citizen of North Dakota," Puhl said.

The government wants Keiser to forfeit more than $3.8 million, the amount prosecutors claim can be traced to the scheme. Each of the criminal charges carries maximum penalties of five to 20 years in prison.

The trial is expected to take about two weeks.