A Hicksville man accused of running a multimillion dollar gift card scam pleaded not guilty in court Tuesday.

Nassau County District Attorney Kathleen Rice says Craig Ginsberg stole more than $4 million from dozens of people in the Ponzi scam. Ginsberg allegedly told victims he could get them gift cards for half price. Many of the victims claim to have paid Ginsberg cash and received nothing in return. So far, 35 victims have come forward.?They believed him. They gave him money and then he expanded his scheme to include to selling time shares and tickets and boxes to Knicks games and other sporting events,? says Rice. Ginsberg's lawyer, Michael Schwed, says his client was running a bartering service, not a Ponzi scheme, and that business went sour. Bail was set at $500,000.

Rice says Ginsberg has already served time in jail for other fraud and larceny charges.