"This isn't a case of inadequate due diligence done, the due diligence was flawed, because you didn't get the right answers. I don't know how you get right answers, when you ask the right questions when people purposely give you the wrong answers," said Buechner.

Coffman and Milby were both charged with eight counts of mail fraud and nine ounts of wire fraud. Milby was sentenced to 20 years in prison and Coffman received 25.