ALBANY, Ga. (AP) -- Federal prosecutors have accused a licensed aircraft broker from Carrollton of conspiring to defraud seven southwest Georgia banks of loans totaling $3.1 million.

The Albany Herald reports that Sidney Hall pleaded not guilty and was released on his own recognizance after an initial court appearance Friday.

The former Marine faces bank fraud and identity theft charges outlined in a 15-count indictment.

The indictment says Hall went to each of the seven banks took out thousands of dollars in loans to buy aircraft, many of which he had already used as collateral at other banks.

Prosecutors say he also used the identification of banking officials to prepare documents to release liens placed on two aircraft with the Federal Aviation Administration.