United States v. Richards

ROSENTHAL, District Judge:

Defendants appeal their convictions for their involvement in a purported investment scheme that took large sums of money from the investors and returned them little or nothing. The investors believed that their money went to purchase letters of credit, which defendants were to “roll,” or repeatedly sell and repurchase, to European banks. The indictment alleged that the defendants took the money from the investors, but purchased no letters of credit and instead kept the money for themselves.

A1 Richards appeals his convictions for conspiracy to commit wire and mail…