Latest news with #Bossetti
Yahoo
02-05-2025
- Business
- Yahoo
Finance influencer charged with running $11 million real estate fraud scheme
An Ohio finance influencer is facing federal charges for allegedly running a "fraudulent real estate investment scheme," bilking investors out of over $11 million, according to a court document filed in U.S. District Court last week. 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
NBC News
02-05-2025
- Business
- NBC News
Finance influencer charged with running $11 million real estate fraud scheme
An Ohio finance influencer is facing federal charges for allegedly running a "fraudulent real estate investment scheme," bilking investors out of over $11 million, according to a court document filed in U.S. District Court last week. 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.
USA Today
01-05-2025
- Business
- USA Today
Finance influencer with more than a million followers charged with fraud in Ponzi scheme
Finance influencer with more than a million followers charged with fraud in Ponzi scheme Show Caption Hide Caption Con-artist who stole millions in Ponzi scheme sentenced to 18 years A globe-trotting con artist who defrauded 237 victims out of $24.5 million to fund a lavish lifestyle was sentenced to 18 years in federal prison. unbranded - Newsworthy Social media finance influencer Tyler Bossetti, 31, of Columbus, Ohio, faces federal charges for allegedly defrauding investors of over $11 million. Bossetti promised high returns on investments for property flipping, but federal prosecutors say he allegedly misused funds for personal luxuries and cryptocurrency ventures. Despite the charges, Bossetti remains active on social media, soliciting clients for credit improvement services. A social media finance influencer with more than a million followers faces federal charges accusing him of defrauding investors of more than $11 million. Tyler Bossetti, 31, is charged in U.S. District Court in Columbus, Ohio, with wire fraud and aiding in the filing of a false or fraudulent document. Bossetti encouraged investors to give him money that they would see high returns on, sometimes 30% or more, for flipping properties, according to court records. However, Bossetti used the money in other ways, including personal luxury housing and vehicles and cryptocurrency investments that resulted in large losses, court records say. In June 2022, Bossetti wired himself $900,000 through an interstate wire transfer. Bossetti would pay for the losses he incurred with the investments of new investors, court records say. Between September 2019 and June 2023, Bossetti received more than $20 million in investments, court records say. Investors lost more than $11.2 million, according to court records. Franklin County Common Pleas Court records show Bossetti and his brands, Boss Lifestyle LLC and Bossetti Enterprises LLC, have had at least 12 civil lawsuits filed against them in 2023 and 2024, several of which remain open and ongoing. The lawsuits are all related to alleged mishandling of money or lost investments. Bossetti has garnered a following on social media, where he has more than 1 million followers on Instagram and has hosted the "All for Nothing" podcast. Bossetti also has a Substack page with more than 88,000 followers. That page has remained active, with posts as recent as April 25, where he solicited people looking to improve their credit to reach out to his team. In the April 25 post, Bossetti wrote that he could see the "keyboard warriors" who have submitted fake forms to his website and that he is not trying to convince the "peasant trolls" that he can get results. "You don't stop a machine by throwing shade — you just prove it's working," the post states. "So to the ones who are serious about breaking free and leveling up financially, let's work. The rest? Stay broke, bitter and busy watching." A court date for Bossetti has not yet been set, according to U.S. District Court records. Reporter Bethany Bruner can be reached at bbruner@ or on Bluesky at @
Yahoo
01-05-2025
- Business
- Yahoo
Columbus financial social media influencer defrauded investors of $11 million, prosecutors say
COLUMBUS, Ohio (WCMH) — A Columbus-based financial social media influencer has been federally charged after prosecutors accused him of defrauding investors of more than $11 million. Tyler Bossetti allegedly solicited short-term real estate investments while promising returns of 30% or more from purchasing, rehabbing, refinancing, and renting or selling residential properties, according to prosecutors. Company pulls out of biodigester project in West Jefferson As part of his alleged real estate scheme, which took place between September 2019 and June 2023, Bossetti used social media and third-party companies to solicit investments, prosecutors said. He gave promissory notes that 'falsely claimed investments were risk-free and secured by real estate' that he owned. '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 wrote in a federal complaint. Bossetti hosts the All for Nothing podcast and runs Boss Lifestyle LLC, and Bossetti Enterprises, LLC. His Instagram account with 1 million followers, which was public earlier Wednesday, has since been made private. He bills himself as an entrepreneur and investor on his LinkedIn profile. He also runs a Substack, in which he posts about financial topics to more than 88,000 subscribers. A post was made as recently as Tuesday, discussing trends in the cryptocurrency market. House Bill 6's repeal, Delta-8 THC among bills moving through Ohio Statehouse A personal website linked on the Substack appears to no longer be active. Bossetti collected more than $20 million in the alleged scheme, leading to a loss of at least $11.2 million for investors, prosecutors said. He allegedly spent the money on luxury housing and vehicles, as well as cryptocurrency investments, which resulted in large losses. Bossetti allegedly paid old investors back with money from new investors. In June 2022, Bossetti allegedly had one investor wire him $900,000 to his bank account. He also 'willfully aided and assisted in, and procured, counseled, and advised the preparation and presentation' of a fraudulent IRS 1099-INT form, reporting interest income of $4,500, despite the taxpayer never earning any interest. The fraudulent document was allegedly filed to conceal Bossetti's scheme, according to prosecutors. Franklinton social services organization sued by city for 'attracting criminal activity' Bossetti is charged with wire fraud and aiding in the filing of a false or fraudulent document. If convicted, he would have to forfeit any property that was obtained from money he made on the scheme. A hearing is scheduled for 11:30 a.m. on June 13, according to court documents. NBC4 has reached out to both Bossetti and an attorney listed for him in court records for comment. While Bossetti has not replied, the attorney said, 'I'm sorry but we won't have any comment on Tyler's case.' Bossetti has at least a dozen civil cases against him and his businesses in the Franklin County Court of Common Pleas, online records show. Many of the cases — dealing with alleged mishandling of money and investments — have been closed, but several remained active as of Wednesday. In one case, he was sued for owing more than $30,000 in credit card debt on his American Express Business Gold card. The judge ordered Bossetti to pay $31,834.19 to the bank after he 'failed to properly answer or otherwise defend although duly served with process according to law by Certified Mail on 11/24/23.' Indoor slide park's first Ohio location eyes May opening Bossetti is also named as a defendant in another federal lawsuit, which was closed in August, where he was accused of failing to pay back $1.125 million by Nov. 30, 2022, for a $900,000 loan he received from Oak River Equity Ventures, LLC. He asked for an extension of the payment deadline after stating that he wouldn't have the money on time. The two parties agreed to an extension, with Bossetti owing a new amount of $1.162 million, according to the complaint. Bossetti failed to pay by the new deadline, but told Oak River that the payment was sent on Jan. 13, 2023, which the company said was false. A judge found that Bossetti was liable to pay a total of $2.26 million plus post-judgment interest due to a 50% interest rate plus a 5% supplemental default interest, according to court documents. In a second federal lawsuit, Bossetti was accused of failing to pay back another $550,000 loan. A judge ordered him to pay back the loan plus the 20% interest and 5% added on any delinquent principal, according to court records. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
