RIPPLE, Circuit Judge.
After a bench trial based on stipulated facts, the United States District Court for the Western District of Wisconsin found Darrell H. Lack guilty of one count of mail fraud and eleven counts of interstate transportation of stolen securities, in violation of 18 U.S.C. §§ 2, 1341 and 2314. Mr. Lack then appealed to this court. For the reasons set forth in the following opinion, we affirm the decision of the district court.
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