Williamsville man arrested, charged by complaint in multi-million dollar fraud scheme

BUFFALO, N.Y.-U.S. Attorney Michael DiGiacomo announced today that Richard Teplitsky, 71, of Williamsville, NY, was arrested and charged by criminal complaint with mail and wire fraud, which carry 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 that were seeking to borrow money to acquire commercial equipment. When investors provided funds to Woodhill, Teplitsky provided them with copies of equipment financing agreements and repayment schedules of the borrowers. According to Teplitsky, investors would receive payments, typically by check of electronic transfers, from Woodhill based on these repayment schedules.

For instance, the complaint states that Victim 1 has had approximately 15 investment loans with Woodhill since 2018. Between 2018 and February 2026, Victim 1 received monthly payments from Woodhill. However, in March 2026, Victim 1 did not receive a payment. He attempted to reach Teplitsky but was unsuccessful. Victim 1 then reached out to other investors and learned that they also had not received payment in March. Victim 1 then sent a certified letter to the borrowers of his loans directing them to pay him instead of Woodhill. Approximately 3-4 borrowers responded, claiming that they did not have a loan with Woodhill, that the amount of the loan was incorrect, or that it was not their signature on the equipment financing agreement.

The investigation has identified more than 100 victims with estimated losses in excess of 10,000,000.

Teplitsky made an initial appearance this afternoon before U.S. Magistrate Judge Michael J. Roemer and was released on home confinement with electronic monitoring.

The case is being prosecuted by Assistant U.S. Attorney Paul E. Bonanno. The complaint is the result of an investigation by Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Philip Tejera.

The fact that a defendant has been charged with a crime is merely an accusation and the defendant is presumed innocent until and unless proven guilty.

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