A popular social media influencer from Columbus faces up to 20 years in prison after pleading guilty Friday to charges related to a real estate Ponzi scheme.
Tyler Bossetti, 31, received more than $23 million in investment from victims in the United States and other countries. Investors lost more than $11 million.
Bossetti pleaded guilty in federal court to wire fraud and aiding in a false tax filing.
Court documents say that from 2019 through 2023, Bossetti publicized a real estate investment program.
Through his Boss Lifestyle company, Bossetti guaranteed large rates of return for short-term investments.
According to records, Bossetti gave investors promissory notes falsely claiming that the investments were risk-free and secured by real estate that he owned.
The documents said Bossetti knew he could not cover the obligations he was taking on in the promissory notes.
The U.S. Attorney's Office said Bossetti admitted to misappropriating investor funds to further his lifestyle. He made rental payments on a condominium in downtown Columbus, traveled frequently, bought a $150,000 Mercedes SUV and invested in cryptocurrency.
Bossetti has hosted the All for Nothing podcast. He still has more than 900,000 followers on Instagram.