The man accused of misusing hundreds of thousands of dollars of a client’s money on personal expenses will remain behind bars.

Kris Roglieri, of Queensbury, has been charged with wire fraud. He owns the commercial lending company called Prime Capital Ventures. He allegedly took a $5 million payment from a Minnesota company on the pretext of using that money to secure business loans.

Instead, prosecutors said he used nearly $1 million of that money to pay another client. He also spent $84,000 for a Rolex gold diamond bezel watch and $101,000 for round-trip private air travel from Albany to Anguilla for a family vacation.

Roglieri has been behind bars since his arrest in May. A previous request was denied after he allegedly made threats to an FBI agent and court staff.

His attorney made a second request for Roglieri to be released on bail.

In a supporting memo, they cited the fact that his grandmother recently passed away at the age of 106, his mother is suffering from dementia. His ex-wife said that his two children ages 14 and 12 have elevated anxiety from being separated from his family. Roglieri’s brother said the arrest has humbled him.

“Dr. Joe Roglieri, in an interview for this memo, described how he has watched his brother move from totally distressed about losing his home, possessions, and lifestyle to ‘accepting that those things are just material, and they don’t matter.’”

Roglieri’s partner, Linda Oliver, has agreed to let him stay at a home in Poughkeepsie. She commutes to Manhattan several days per week. She said she is willing to serve as a third-party custodian, according to a court filing.

She said that he is not violent and pointed out that Roglieri has done good deeds in the community including hosting an annual fundraiser at his home for the Melodies Center for Childhood Cancer and Blood Disorders and distributing Thanksgiving dinners in Arbor Hill in 2023. .

The judge ruled against the application stating that “The Court finds defendant to not be a risk of flight, but does find him to continue to be a danger to the community.”