US v. McKanry, No. 10-1027

Conviction for Defrauding Lenders Affirmed

In US v. McKanry, No. 10-1027, the court affirmed defendant's conviction and sentence for conspiring to defraud lenders, lying to a U.S. postal worker, mail fraud, and wire fraud where 1) it was reasonable for the jury to convict defendant of conspiracy to commit mail and wire fraud; 2) a reasonable jury could infer defendant, an experienced real estate professional, was aware these bogus payouts were meant to deceive the lenders; and 3) the district court did not err by basing its loss calculation upon the fraudulent transactions for which defendant was acquitted or not charged.

As the court wrote:  "A jury convicted William E. McKanry of conspiring to defraud lenders in violation of 18 U.S.C. § 371, lying to a United States postal worker in violation of 18 U.S.C. § 1001(a)(2), mail fraud in violation of 18 U.S.C. §§ 1341 and 2, and wire fraud in violation of 18 U.S.C. §§ 1343 and 2. The district court¹ sentenced McKanry to 27 months imprisonment. The district court also imposed victims' restitution in the amount of $732,753.47. McKanry appeals his conviction and sentence. We affirm."

Related Resources

• Read the Eighth Circuit's Decision in US v. McKanry, No. 10-1027