U.S. Attorney Michael DiGiacomo announced on Tuesday that Richard Teplitsky, 71, of Williamsville, NY, was arrested and charged by criminal complaint with mail and wire fraud, which carries a maximum penalty of 20 years in prison.
According to the criminal complaint, Teplitsky served as the president of Woodhill Capital Corporation, located in Williamsville, NY. As president, he and other Woodhill personnel solicited funds from investors within the Western District of New York and elsewhere.
Teplitsky claimed the funds would be used to finance loans to businesses seeking to acquire commercial equipment.
When investors provided funds to Woodhill, Teplitsky provided them with copies of the borrowers’ equipment financing agreements and repayment schedules.
According to Teplitsky, investors would receive payments, typically by check or electronic transfer, from Woodhill according to these repayment schedules.
For instance, the complaint states that a victim has had approximately 15 investment loans with Woodhill since 2018. Between 2018 and February 2026, the victim received monthly payments from Woodhill.
However, in March 2026, the victim did not receive a payment. He attempted to reach Teplitsky but was unsuccessful. The victim then reached out to other investors and learned that they had not received payment in March either.
The victim then sent a certified letter to the borrowers of his loans, directing them to pay him rather than Woodhill.
Approximately three to four borrowers responded, claiming that they did not have a loan with Woodhill, that the loan amount was incorrect, or that their signature was not on the equipment financing agreement.
The investigation has identified more than 100 victims, with estimated losses exceeding 10,000,000.
Teplitsky made an initial appearance Tuesday afternoon before U.S. Magistrate Judge Michael J. Roemer and was released on home confinement with electronic monitoring.
