The court of appeals affirmed a judgment of the district court. The court held that in sentencing a defendant in a bogus investment scheme, it was proper to impose enhancements both for the use of sophisticated means and for more-than-minimal planning.

James F. Garro was found guilty by jury of wire fraud, money laundering, and tax evasion. In the operation of his bogus investment scheme, Garro hid assets and transactions by use of shell corporations.