DENVER — A Lone Tree man who pleaded guilty in financial crime cases last year in which he defrauded investors was sentenced this week in Denver District Court.
Court records show that Tyler Tysdal was sentenced Thursday to six years in the Department of Corrections.
He pleaded guilty to securities fraud in June 2021 in two cases brought by the district attorney's Economic Crimes Unit, according to the Denver District Attorney's Office
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Tysdal ran Cobalt Sports Capital LLC, which made short-term, high-interest loans to athletes and entertainers between January 2014 and October 2016, the DA's Office said. He and his business partner, Grant M. Carter of Johns Creek, Georgia, defrauded investors by making false and misleading statements and by omitting key facts about his business operations, the DA's office said.
Cobalt obtained more than $46 million from 77 investors, the DA's Office said.
In 2019, a grand jury found sufficient evidence to charge Tysdal with violating Colorado's Organized Crime Control Act, and a case was opened in December of that year, the DA's Office said.
Tysdal agreed as part of his plea agreement in the case to pay back more than $18 million in restitution.
He was also charged in 2020 in a separate case in which he claimed he was seeking investment capital to fund a national expansion of a wine distributor, Curious Cork Imports LLC. He claimed that Curious Cork was an importer and brand builder of fine European wines valued at $15 million and was expected to soon be worth $25 million, according to the release.
Three investors sustained a total loss of $500,000, and Tysdal agreed to pay back the full amount as part of his plea agreement, the DA's Office said.
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