Finance influencer charged with running $11 million real estate fraud scheme
Tyler Bossetti, 31, was charged in U.S. District Court in Columbus with wire fraud and aiding the filing of a false or fraudulent document. In a court document, federal prosecutors allege that Bossetti knowingly participated in the four-year scheme in Ohio and elsewhere "to defraud and to deprive another of money and property by materially false and fraudulent pretenses, representations, and promises.
Court records show that Bossetti entered a plea on April 22, though the details have been sealed. His attorney declined to comment, and Bossetti is scheduled to be arraigned on July 13.
According to a court document, Bossetti allegedly sought short-term real estate investments from 2019 to 2023 that he intended to buy, renovate, sell, or rent, using social media and 'third-party companies' to find investors.
Bossetti would then promise investors high returns, usually 30% or more, and falsely claim that the investments were risk-free and secured by real estate he owned, prosecutors allege.
"When making solicitations and executing promissory notes, Bossetti knew that he would not use the investment funds for the purported business and that profits from the purported business could not cover the obligations he was taking on in the promissory notes," prosecutors said in the court document.
The finance influencer allegedly spent money he received from investors on cryptocurrency investments and personal expenses, including, "luxury housing and vehicles," the court document states. He also paid investors with investment funds he received from newer investors instead of business income.
The court document states that Bossetti allegedly received over $20 million from investors, but the investors, who were not identified, lost over $11 million due to the scheme.
He's also accused of helping someone file a false 1099-INT form to the Internal Revenue Service, in which it was claimed that the person earned $4,500 in interest income when they never did. Prosecutors allege this was done to conceal the scheme.
Bossetti positions himself as a financial consultant online and hosts a podcast called 'All For Nothing,' which has 124,000 followers on Instagram. In clips from his podcast posted to social media, Bossetti and his guests provided his audience with financial advice and discussed other topics, including football and reality TV.
Bossetti has 1,000,000 followers on his personal Instagram page, which is now private.
This article was originally published on NBCNews.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
San Francisco Chronicle
20 minutes ago
- San Francisco Chronicle
Michael Franti cancels tour as more sexual abuse allegations surface
Michael Franti has canceled his upcoming tour, including a scheduled Bay Area concert, as accusations of sexual abuse continue to build against the musician. 'This is one of the hardest messages I've ever had to write,' Franti posted on social media Wednesday, Aug. 20. 'Recent events online have left me disheartened and my spirit isn't in the place it needs to be to get on stage and give you the joy and energy you deserve.' The Oakland-born frontman for Spearhead and the Disposable Heroes of Hiphoprisy added, 'The remaining dates on the Welcome to the Family Tour will be canceled. I'm devastated to disappoint you, but I hope you understand that I need this pause to be with my family.' A concert was originally scheduled for Tuesday, Aug. 26, at Saratoga's Mountain Winery. Promoter AXS said tickets would be refunded automatically. The tour cancellation comes less than a week after Spanish American singer Victoria Canal alleged in an Instagram post that she was groomed and abused by a 'very powerful' older musician when she was 19. Canal did not name Franti in her Aug. 11 post, but she has previously credited him with discovering her in 2018 and inviting her on tour. Later that same day, Franti, a frequent face at Bay Area festivals such as Stern Grove and BottleRock Napa Valley, took to his Instagram account to acknowledge a romantic relationship with an unnamed artist outside his marriage but denied any abuse. 'The relationship was completely consensual, based on mutual feelings and attraction,' he wrote. Canal described the man as controlling and abusive in private. She alleged that he photographed her without consent and isolated her from others, saying the experience 'plagued my body, spirit, and mind' throughout her 20s. A few days later, Canal shared similar allegations sent to her by Carla Swanson, who co-founded Soulshine yoga resort hotel in Bali with Franti in 2011, and Wyoming musician Makina Kaili. Yet another voice joined the controversy on Wednesday. Writer Minda Lane published a lengthy Substack post recounting her experience with Franti between 2008 and 2017. She described herself as a longtime fan and admitted she initially welcomed his attention but later came to see a troubling pattern of behavior. She claimed that Franti once stripped naked in front of her shortly after they met, later pushed her into sexualized exchanges over webcam and alternated between affectionate and dismissive treatment that left her confused and seeking his approval. Lane also recalled instances she described as public 'misconduct,' including what she said was an appearance at a festival in jeans with 'a hole in the crotch and no underwear.' 'I didn't think of it as being groomed,' Lane wrote. 'Instead, I thought a dream was coming true. I thought I had manifested the experience through the sheer ardor and conviction I carried for his music and his causes. 'What I realize now is that he probably never meant the sweet or complimentary things he said to me,' she continued. 'He only said what he needed to keep me in thrall so I would remain available when he wanted to use me.'
USA Today
20 minutes ago
- USA Today
Michael Franti dropped by management amid 'troubling' allegations
Musician Michael Franti has reportedly been dropped by his management company, amid a string of cancellations connected to claims of misconduct. Activist Artists Management dropped Franti, according to Variety and The Hollywood Reporter, as the pop-reggae artist attempts to weather a scandal seemingly brought on by a series of social media posts from singer-songwriter Victoria Canal. Activist Artists Management did not immediately respond to a request for comment. Earlier this week, Soulshine at Sea 3, an aquatic music festival headlined by Franti, was canceled after an exodus of slated artists. The cruise was intended to sail in November from Miami to Mexico—until artists like Dispatch, Maggie Rose, Hirie, and Liz Vice pulled their performances. "We've decided we will no longer be performing at Soulshine at Sea. We have been made aware of deeply concerning public allegations involving another artist on the lineup and have chosen to withdraw from the event," Dispatch said in an Aug. 16 post on Facebook. "We are sorry for any inconvenience this may cause and appreciate your understanding." Hirie and Vice also referenced "concerning" and "troubling allegations" in their respective social media posts. In a post to Soulshine at Sea's website Aug. 17, event promoter Sixthman referenced "recent events" when confirming the cancellation and promised to unveil a replacement cruise soon. Franti took to social media shortly after to acknowledge he had "a romantic relationship outside my marriage" with an unnamed artist, an admission seemingly connected to the cancellation. While neither Franti nor any of the Soulshine performers named the artist, their posts directly followed allegations made on Instagram earlier this month by Canal, who said she had been groomed by a "very powerful, decades older man." The abuse, the Spanish singer-songwriter alleged, began when she was 19, after she was "plucked" from the internet during her college years, and promised professional opportunities. Canal, 27, went on to allege that this man now enjoys a family-man image and active career, but "has a history of incredibly damaging behavior" behind the scenes and is protected by "a team of enablers." "This experience, which lasted a little over a year, has had a years-lasting effect on my intimate life," she wrote. "The truth is, I just couldn't carry on hiding this part of me. Hiding from the young women who follow me has felt so painful, and I finally feel so ready to speak on it openly." Reps for Franti have not responded to USA TODAY's request for comment, including questions on a nonconsensual relationship with Canal. Canal went on to promise the release of a new song that would address the trauma and explained that she was omitting the name of her alleged accuser for fear of financial and professional harm. When reached for comment, a rep for Canal said: "It feels very liberating for Victoria to speak on her experience as she continues to heal. She hopes sharing can help young women entering the world of music to keep their eyes open and protect themselves." Following Canal's posts, Tank and the Bangas, a group slated to tour alongside Franti for the remainder of the summer, also canceled their joint shows, writing on Instagram: "While we are not aware of any specific details related to the matter, in light of the recent post made by the artist, we have made the difficult decision to not participate, until we have a better understanding of the facts." Franti, in his own lengthy statement posted to Instagram, wrote that while he had had an extramarital affair seven years prior with a fellow musician on his tour, it was entirely "consensual." He did not name Canal. The pair collaborated on 2019's "The Flower" and Canal served as the opener on Franti's tour that same year. "I'm aware of the recent posts this artist made about our relationship, and while I support her need to express herself publicly, the relationship was completely consensual, based on mutual feelings and attraction. I vehemently dispute any version of the story that says otherwise," Franti wrote. "I will, however, take full accountability for not better recognizing the power imbalance as she was younger than me, and I was the headliner on tour." If you or someone you know has experienced sexual violence, RAINN's National Sexual Assault Hotline offers free, confidential, 24/7 support to survivors and their loved ones in English and Spanish at: (4673) and and en Español
Miami Herald
an hour ago
- Miami Herald
ICE shares call to ‘charge' CT lawmaker for speaking out on local ICE activity
A Connecticut lawmaker has come under attack after U.S. Immigration and Customs Enforcement shared a social media post calling on authorities to 'charge him' for speaking out about reports of local ICE activity. After state Rep. Corey P. Paris posted an Instagram statement on Aug. 15, in which he mentioned reported ICE activity and advised residents in Stamford, his district, to stay safe and vigilant, the account 'Libs of TikTok' on X accused him of 'doxxing ICE's live location.' The account, followed by millions of X users, made the accusation in a post that includes photo of Paris and a screenshot of his Instagram statement. The post further accused him of 'helping illegals evade arrest and impeding ICE' and, in demanding for him to be charged, tagged ICE and the Department of Homeland Security's accounts on X to alert the agencies. The next day, ICE seemed to support the post by re-sharing it on the agency's social media page. In its repost, ICE tagged the Justice Department's government account on X. 'I never notified anyone about ICE law enforcement's live location,' Paris told the Hartford Courant on Aug. 19 'I didn't dox anyone and there isn't any evidence anywhere that I did,' he added. ICE's repost received nearly 3,000 shares and about 8,000 favorites as of the afternoon of Aug. 20. Paris has since received death threats and faced harassment, he told News 12 Connecticut. The Connecticut Hispanic Democratic Caucus said in an Aug. 19 statement that 'Libs of TikTok' had 'misconstrued' his Instagram post, 'leading to calls for Paris's arrest, execution threats, racist slurs, and invasion of his family's privacy.' The group, describing the social media page as a right-wing account, also said ICE has contributed to the backlash Paris is facing. When contacted by McClatchy News for comment about ICE resharing 'Libs of TikTok''s post, a DHS spokesperson said on Aug. 20 that: 'We condemn violence and threats of any kind.' 'Notifying the public about ICE law enforcement operations endangers law enforcement and weakens American national security,' the DHS spokesperson wrote via email, adding that ICE officers are 'now facing an 1000% increase in assaults against them.' In his Aug. 15 Instagram statement, Paris did not share specific details about ICE operations. He said he learned of reports about ICE activity in his district and was 'working to verify' the information. His post also encouraged sharing information about immigration enforcement actions with advocacy groups. In a statement provided to McClatchy News by Paris' spokesman, the lawmaker said on Aug. 16, that when he shared his Instagram post, he also 'reposted a video that has been shared across the state and reminded residents to remain vigilant, stay aware of their surroundings, check in on neighbors who may be concerned, and seek trusted legal and community resources if needed.' 'I do not regret standing up for the targeted and voiceless,' Paris added. 'I was taken aback by the attacks that followed and concerned about the safety of my own loved ones,' Paris said. 'However, this is the reality our friends and neighbors who are immigrants live with every single day: the constant fear that their families could be targeted, disrupted, or torn apart.' Paris told The New York Times that one threat was made over the phone by a man he did not know. He said the man went on a rant, using homophobic and racial slurs, and warned he knew his family members' home addresses, according to the newspaper. U.S. Sen. Chris Murphy, D-Conn. wrote in an Aug. 18 X post that 'Corey Paris did nothing wrong. Nothing illegal.' 'This post from @ICEgov is dime store totalitarian intimidation. Nobody should fall for it.' In the U.S. as of Aug. 10, 59,380 people were detained in ICE detention centers, according to immigration data gathered by Syracuse University's Transactional Records Access Clearinghouse.
