Tyler Tysdal Indictment on Securities Fraud, Theft and Decade Long Ponzi Scheme

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Tyler Tysdal, of Lone tree, Colorado has been indicted by a grand jury in Denver alongside his business partner; Grant Carter on alleged 67 counts including securities fraud, ponzi scheme, and theft among others according to an investigation by investor rights attorney, Alan Rosca.

Ponzi scheme attorney Alan Rosca, of the Rosca Scarlato LLC law firm is investigating alleged conduct related to the indictment of Tyler Tysdal alongside his business partner; Grant Carter on the allegation of securities fraud, theft and Ponzi scheme activities. Tyler Tysdal and Grant Carter have been business partners for over a decade.

Specifically, the firm is investigating potential claims against third parties that might have assisted, or facilitated the alleged misconduct carried out by Tyler Tysdal and Grant Carter.

Tyler Tysdal was Indicted by a Grand Jury for Allegedly Committing Securities Fraud, Theft and Violating Colorado Organized Crime Control Act

Tyler Tysdal and Grant Carter, according to indictment information obtained from the Denver District Attorney’s Office, devised a scheme that allegedly defrauded about seventy-seven (77) investors to the tune of $46 million. The alleged fraud involved an elaborate scheme that was allegedly run from 2011 till 2019. The Scheme allegedly sought to obtain money from various investors and defraud them of the money by making material misstatements and omissions and also allegedly making promises that were very difficult to meet or fulfil. As a result of their alleged actions, nearly all investors lost money in millions of dollars.

Tyler Tysdal and his business partner allegedly received money from investors and promised a 10% quarterly interest on the unpaid balance.  The investment from the investors was allegedly meant to fund loans to athletes, sports agencies and related agencies through Cobalt Sports Capital; a company formed by Tyler Tysdal and Grant Carter. However, the funds were allegedly diverted into high risk loans disbursed to struggling and cash strapped start-ups with negative cash flow under a private equity fund managed by Tysdal: Impact Opportunities Fund.

Tysdal and Carter Ponzi Scheme like payments

As a result of the nature of the loans, Cobalt allegedly experienced losses owing to loan defaults and under-performing loans, which was not disclosed to investors and other financial advisers. These alleged losses resulted in the insufficiency of funds to repay interests to the investors and other business expenses. It must be noted that three months prior to these allegations and indictments, Tyler Tysdal and Grant Carter had agreed to pay in excess of $1 million in settlement of Fraudulent Conducts allegations brought by the Securities and Exchange Commission.

These schemes and transactions have been allegedly described as bordering on Ponzi scheme. Ponzi schemes are fraudulent investment programs in which unscrupulous promoters pay supposed returns to existing investors with money raised from new investors. Ponzi schemes are inherently fraudulent because new investors are not told that their money would be misused, and instead of being invested as promised it would be misdirected to pay returns to existing investors. Some of the investors allegedly affected in this scheme include three former University of Southern California quarterbacks: Carson Palmer, Matt Cassel and Mike Van Raaphorst.

Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.

Invested with Tysdal and Carter? Ponzi Scheme Attorney Investigating

The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating conduct related to Tyler Tysdal’s Indictment by the grand jury for securities theft, fraud and a decade long Ponzi scheme. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Ponzi scheme attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

Investors who believe they lost money as a result of conducts related to Tyler Tysdal’s Indictment by the grand jury for alleged securities theft, fraud and a decade long Ponzi scheme may contact ponzi scheme attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.