Alexandria, Virginia-Linda Woolf, 48, of Sandy, Utah, and David Gengler, 34, of Draper, Utah, were indicted on March 6, 2007, by a federal grand jury on charges of wire fraud and conspiring to commit wire and mail fraud. Chuck Rosenberg, United States Attorney for the Eastern District of Virginia; Guy J. Cottrell, Inspector in Charge, U.S. Postal Inspection Service, Washington Division; and, Joseph Persichini, Jr., Assistant Director in Charge, Federal Bureau of Investigation, Washington Field Office, made the announcement. Woolf and Gengler face a maximum penalty of 30 years in prison, a $250,000 fine, and 5 years of supervised release.

According to the indictment, Woolf and Gengler falsely represented themselves to be highly successful stock traders in order to sell "advanced" seminar courses costing from $3,000 to more than $40,000. Many of the attendees were senior citizens, who were encouraged by the Woolf and Gengler to take out large lines of credit and to show their retirement and investment portfolios to the seminar sales staff (known as "Success Coaches"), ostensibly to receive investment advice, but really to allow the staff to identify how much money an individual had available.

Woolf and Gengler worked for "Teach Me To Trade," a brand name controlled by the Whitney Information Network, Inc., a nationwide seminar company that frequently targeted Northern Virginia.

The Securities and Exchange Commission also announced today the filing of civil fraud charges against Woolf and Gengler.

This case was investigated by the United States Postal Inspection Service and the Federal Bureau of Investigation. Assistant United States Attorneys G. Derek Andreson and Daniel J. Grooms are prosecuting the case on behalf of the United States.

Criminal indictments are only charges and not evidence of guilt. Defendants are presumed to be innocent until and unless proven guilty.

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