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DENVER A Colorado man has pleaded guilty to defrauding investors, including multiple professional athletes, of millions of dollars in a nearly decade-long Ponzi scheme.
Tyler Tysdal, 50, of Lone Tree, faces up to eight years in prison and must pay more than $18 million in restitution as part of a plea deal, the Denver District Attorney’s Office announced Tuesday.
He and his business partner were indicted in 2019 on 67 counts, including securities fraud, theft and violating the Colorado Organized Crime Control Act, The Denver Post reported.
The indictment redacted the names of the alleged victims, but a leaked copy reviewed by the newspaper showed they included three former University of Southern California quarterbacks: Carson Palmer, a 15-year NFL veteran and 2002 Heisman Trophy winner; Matt Cassel; and Mike Van Raaphorst.
Tyler Tysdal Guilty Pleas Financial Crimes Update
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Man pleads guilty in Ponzi scheme that defrauded athletes
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Daybreak, her husband, Tyler Tysdal, is in the midst of a serious legal battle. On Thursday, February 18, he s scheduled for two appearances in Denver District Court involving a combined seventy counts connected to alleged financial malfeasance. Among the reported victims is a former National Football League all-pro quarterback.
The first of the hearings is a status conference related to a December 2019 grand jury indictment. Carolyn Tyler, spokesperson for the Denver District Attorney s Office, spells out the specifics, using abbreviations for the classifications of several felonies: Mr. Tysdal is charged with 67 counts. . The highest charge is violating the Colorado Organized Crime Control Act (F2). He is also charged with multiple counts of securities fraud (F3), conspiracy to commit securities fraud (F4) and one count of theft (F2).