The president of a Williamsville-based equipment financing corporation was arrested and charged Tuesday in federal court for defrauding more than 100 customers in excess of $10,000,000, U.S. Attorney Michael DiGiacomo announced.
Richard Teplitsky, of Williamsville, faces a maximum of 20 years in prison on charges of mail and wire fraud stemming from the actions of Woodhill Capital Corporation.
The Western District of New York alleges Teplitsky, and other Woodhill associates, collected investments in order to finance loans for businesses acquiring commercial equipment.
However, when investors stopped receiving repayment — in March 2026 — some reached out directly to these commercial equipment businesses, who claimed to have never received a loan from Woodhill, or that the amount of the loan recorded was incorrect, or that it was not their signature on the financing agreement.
Teplitsky, 71, was released on house arrest with electronic monitoring following an initial court appearance.