United States v. August C. Ghilarducci and Ronald J. Richardson

WILLIAMS, Circuit Judge.

This case concerns dozens of failed investment deals orchestrated by August C. Ghilardueci, president and owner of West-chester Financial Associates, Inc. (“WFA”), at times with the assistance of his co-defendant Ronald J. Richardson. Ghilardueci and Richardson executed a series of deals in which they charged WFA clients fees for procuring Confirmation of Funds (“COF”) letters from financial institutions. The letters purported to show that financial institutions were capable of leasing large sums of money to WFA clients for a short time. Despite the defendants’…