Ezri Namvar, the Westside real estate investor accused of defrauding hundreds of investors, delayed for a week entering a plea on criminal charges during an arraignment in U.S. District Court in Los Angeles.

Namvar, 59, whose personal bankruptcy is among Los Angeles County’s largest in decades, surrendered to FBI authorities Monday morning and the arraignment was held that afternoon.

Judge Paul Abrams postponed the plea until next Monday at the request of Namvar’s attorney. Bail was set at $300,000. Namvar was ordered to surrender his passport and cannot travel outside the court’s jurisdiction, which spans from San Luis Obispo to Orange County.

The 464 creditors of Namvar and his Namco Financial Exchange Corp. claim they are owed at least $866 million. Namco Financial Exchange functioned as an intermediary for investors wanting to buy and sell properties via tax-deferred exchanges.

According to the criminal indictment, Namvar is accused of stealing $23 million, which was held in his Namco Financial Exchange Corp., from five of his clients over six months in 2008. He allegedly used the money to pay back investors of his main company, Namco Capital Group Inc., now also bankrupt.