By Ameet Sachdev | The chief executive of a Chicago aircraft leasing company was arrested Tuesday for allegedly engaging in a commercial bribery scheme, according to the U.S. attorney’s office in Chicago.
 
Brian Hollnagel, who founded BCI Aircraft Leasing Inc. in the late 1990s, was released today on $1.7 million secured bond, along with home confinement and electronic monitoring after appearing before U.S. District Judge Amy St. Eve, said the U.S. attorney’s office. Hollnagel pleaded not guilty to one count of wire fraud.

The criminal charges relate to Hollnagel’s operation of BCI Aircraft, said Randall Samborn, a spokesman for the U.S. Attorney’s office.

An attorney for Hollnagel declined comment.

Hollnagel already faces civil fraud charges related to BCI Aircraft that were brought by the U.S. Securities and Exchange Commission in August 2007. The SEC alleges that Hollnagel and BCI defrauded about 120 people who invested about $82 million in the company. The SEC says Hollnagel was running a Ponzi scheme.