Federal prosecutors in Dallas say Brian Marshall of Tampa, Fla., appeared Tuesday before a magistrate and was freed on bond.
An indictment unsealed this month alleges wrongdoing when Marshall was a vice president and on the board of now-defunct Home Solutions of America.
The construction and restoration company was based in Dallas before relocating to New Orleans in July 2008. Investigators say Marshall was president of the company's largest subsidiary, Tampa-based Fireline Restoration Inc.
The indictment alleges Marshall, from late 2006 to May 2008, fabricated financial data about Fireline construction projects.
Marshall faces two counts of securities fraud, which carry maximum penalties of 25 years in prison and $250,000 fines.