A Lone Tree man pleaded guilty to defrauding investors — including multiple pro athletes — of millions of dollars in a nearly decade-long Ponzi scheme, the Denver District Attorney’s Office announced Tuesday.
Tyler Tysdal, 50, faces up to eight years in prison on separate financial crimes, and his deal stipulates he pay more than $18 million in restitution, the DA’s office said in a news release.
“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 said in a statement. “These are all telltale signs of a scam that reinforce the adage: if it sounds too good to be true, it probably is.”
A grand jury in December 2019 indicted Tysdal and his business partner, Grant Carter, on 67 counts including securities fraud, theft and violating the Colorado Organized Crime Control Act.
The indictment redacted…