Opinion ID: 2800048
Heading Depth: 4
Heading Rank: 2

Heading: The Olsons

Text: Beckman was found guilty as charged in Counts 14 and 15, committing or aiding and abetting the commission of wire fraud, regarding his interactions with elderly victims Charlotte and Raymond Olson, whose trust lost almost $5 million. Beckman claims he had no intent to defraud the Olsons. Among other evidence 11 In July 2009, numerous investors sued Cook, Durand, and many of the UBS and Oxford entities. See Phillips v. Cook, No. 0:09-cv-1732 (D. Minn. July 7, 2009) (complaint). -22- supporting the charges,12 the government produced a letter ostensibly written by Raymond Olson transferring $1.975 million that ViaSource Funding Group, LLC (ViaSource) was to receive from Olson’s Bear Stearns Securities Corp. (Bear Stearns) account to a new account not named in the letter, along with a letter dated the same day from Beckman to ViaSource directing the wire transfer of the Bear Stearns funds to Oxford Global Advisors, LLC. A substantial part of the $1.975 million was then transferred to other Oxford entities. Mr. Olson testified at trial he did not recall writing the letter and did not recall having heard of ViaSource. A reasonable jury could conclude Beckman intended to defraud the Olsons and prepared the letter to access and misappropriate the $1.975 million.