President of Williamsville loan agency accused of running $10M Ponzi scheme

Williamsville man charged in $10M fraud scheme

The president of a Williamsville loan agency faces up to 20 years in prison after being arrested on fraud charges in connection with a multi-million dollar Ponzi scheme.

President of Williamsville loan agency accused of running $10M Ponzi scheme

BUFFALO, N.Y. (WIVB) — The president of a Williamsville loan agency has been charged with defrauding over $10 million from more than 100 victims, the U.S. Attorney's Office said Tuesday. The president of Woodhill Capital Corporation, the loan agency on South Cayuga Road, 71-year-old Richard Teplitsky, is accused of soliciting funds from investors across Western [...]

Upstate NY man allegedly ran $10 million fraud scheme that fooled investors for years

A 71-year-old Upstate New York man was arrested and charged with mail and wire fraud in connection with an alleged scheme that defrauded more than 100 investors of over $10 million, U.S. Attorney Michael DiGiacomo announced Tuesday.Richard Teplitsky, president of Woodhill Capital Corporation in Williamsville, was arrested following an FBI investigation. He faces a maximum penalty of 20 years in prison if convicted.