Tyler Bosetti was sentenced to six years in federal prison for promoting fraudulent real estate investments and tax evasion.
A 31-year-old Ohio man who promoted his “Boss Lifestyle” investment plan through social media has been sentenced to six years in federal prison for orchestrating a pyramid scheme and committing “tax evasion in furtherance of the plan,” according to a statement from the U.S. Attorney’s Office for the Southern District of Ohio.
From 2019 to 2023, so-called “finfluencer” or “financial influencer” Tyler Bosetti promoted a real estate investment program that “guarantees high returns on short-term investments.” Bosetti offered returns of more than 30% and promoted investment opportunities through platforms such as Facebook and YouTube.
In addition to the wire fraud charge, Bosetti pleaded guilty last year to “aiding and abetting the filing of a false tax return” for filing “approximately 14 false and fraudulent 1099-INT tax returns.” These were filed to falsely report interest income on behalf of investors who did not receive interest.
Bosetti admitted that he diverted investor funds for purchases, including “rent payments on a downtown Columbus condo, frequent travel, a $150,000 Mercedes SUV, and investments in various cryptocurrencies.”
“As we close this year’s tax season, I want to remind the public that my office aggressively pursues those who cheat the tax system and steal from the U.S. Treasury,” said U.S. Attorney Dominic S. Jealous II. “We do not tolerate fraud, whether against the government or against private citizens.”
In his LinkedIn profile, Bosetti calls himself a “serial entrepreneur and investor” as well as the host of a podcast that is “a show dedicated to helping people end victimhood, eliminate financial limitations, and build generational wealth.”
According to the Columbus Dispatch, multiple victims gave shocking statements before the sentencing. Ryan Clark spoke on behalf of himself, his father, who lost his pension due to Bosetti’s plan, and his brother. Clark’s father is a former police officer, his brother is a firefighter, and Clark is a veteran of Afghanistan.
Mr Clark said Mr Bosetti’s actions were a “deliberate decision to deprive people of a lifetime of security who have provided security to so many others”.
Another victim, Michael Ringhoffer, invested in Bosetti while his wife was undergoing treatment for cancer. Bosetti said he continued to “pursue further investment” despite learning of his wife’s condition. Ringhoffer said Bosetti’s actions were “not only immoral, they were criminal.”
“He didn’t just steal money, he changed our lives forever,” Ringhoffer said.
Email Christy Murdock
