A Lone Tree man who deceived athletes, sports agencies and entertainers with false information about investments and loans was sentenced Thursday to six years in the Colorado Department of Corrections.
RELATED Tyler Tysdal pleads guilty to financial crimes, agrees to repay $18.5 million to investors
Tyler Tysdal, 51, pleaded guilty a year ago to a single charge of making untrue statements in each of two separate cases filed by the Denver District Attorney’s Office against him in 2019 and 2020.
Tysdal initially faced more than 70 charges, including racketeering.
As part of last year’s plea agreement, Tysdal agreed to pay a combined $18.5 million in restitution to the investors of Cobalt Sport Capital LLC, a firm he and Grant Carter of Georgia incorporated in 2011.
For the next eight years, Tysdal and Cobalt made short-term, high-interest loans, ultimately obtaining more than $46 million from 77 investors, per prosecutors.
“Tyler Tysdal conned people by making promises of exorbitant profits with little risk and by withholding the truth about his business dealings and operations,” Denver District Attorney Beth McCann stated in a press release announcing last year’s plea deal. “These are all telltale signs of a scam that reinforce the adage: if it sounds too good to be true, it probably is. We are pleased that we caught this skilled con artist and we thank the many…
