07/28/2005 11:00PM

Tanaka pleads not guilty

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Prominent Thoroughbred owner Gary Tanaka pleaded not guilty Thursday to charges that he and a business partner defrauded clients of millions of dollars between 2003 and this year.

Tanaka, who founded Amerindo Advisors Inc. with arts patron Alberto W. Vilar, had been indicted with Vilar in New York on Wednesday on 10 counts of conspiracy to commit fraud and an additional count of wire fraud. One allegation is that the two men stole $5 million from Lily Cates, widow of Marshall Naify, a prominent owner and breeder who had owned 505 Farms in California.

No trial date has been set.