Woodhill President Pleads Guilty in $54.4 Million Investor Fraud

Richard Teplitsky, president of Woodhill Capital Corporation, pleaded guilty to mail fraud on October 23, federal prosecutors in Western New York announced. The office gives a loss figure of $54,406,742 and says sentencing will be scheduled later. The plea is the current court outcome.

Sources: U.S. Attorney for Western New York — plea agreement and loss figure ↗

According to the plea agreement summarized in the release, investors were told their funds would finance businesses buying commercial equipment and generate substantial returns. The office says Teplitsky instead used much of the money to pay prior investors and created false financing agreements and repayment schedules.

Sources: U.S. Attorney for Western New York — plea agreement and loss figure ↗

The release says Woodhill owed payments to approximately 200 investors on about 1,800 fraudulent loans as of March 2026. That description explains why a regular payment or a formal-looking schedule did not establish that the underlying financing existed. The account comes from the announced plea agreement, not an independent audit by VIRVIB.

Sources: U.S. Attorney for Western New York — plea agreement and loss figure ↗

A payment history cannot answer whether income comes from a functioning business or from new money entering a scheme. The question is what activity generates cash and how that activity is documented independently. The plea resolves an admitted offense; future reporting should distinguish restitution orders, recovered assets and money actually returned to investors.