NEW YORK (AP)  -- Federal authorities have accused the mayor of a Long Island village of fleecing clients at his Manhattan brokerage firm.

George Motz, the mayor of Quogue for seven years, pleaded not guilty Thursday to securities fraud and other charges. He was released on $500,000 bond secured by his home in the Hamptons.

Prosecutors say the 66-year-old Motz cheated investors by secretly channeling more profitable stock trades into his firm's own account and less profitable into his clients' accounts.

He has denied any wrongdoing.