A stock agent is denying a charge of fraud... worth two-million-dollars

38-year-old John Francis Williams faces 17 charges of false accounting and others of theft and fraud.

The former Rural Livestock Limited employee has pleaded not guilty to the Serious Fraud Office charges in the Dunedin District Court this morning.

The SFO alleges Williams deceived Rural Livestock Limited and his clients, in relation to transactions totalling about two-million-dollars.

Williams has elected trial by jury and was remanded on bail to appear in court again in January.