COLUMBUS, Ohio (WCMH) — A Columbus-based financial social media influencer has been federally charged after prosecutors accused him of defrauding investors of more than $11 million.

Tyler Bossetti allegedly solicited short-term real estate investments while promising returns of 30% or more from purchasing, rehabbing, refinancing, and renting or selling residential properties, according to prosecutors.

As part of his alleged real estate scheme, which took place between September 2019 and June 2023, Bossetti used social media and third-party companies to solicit investments, prosecutors said. He gave promissory notes that “falsely claimed investments were risk-free and secured by real estate” that he owned.

“Bossetti knew that he would not use the investment funds for the purported business and that profits from the purported business could not cover the obligations he was taking on in the promissory notes,” prosecutors wrote in a federal complaint.

Bossetti hosts the All for Nothing podcast and runs Boss Lifestyle LLC, and Bossetti Enterprises, LLC. His Instagram account with 1 million followers, which was public earlier Wednesday, has since been made private.

He bills himself as an entrepreneur and investor on his LinkedIn profile.

He also runs a Substack, in which he posts about financial topics to more than 88,000 subscribers. A post was made as recently as Tuesday, discussing trends in the cryptocurrency market.

A personal website linked on the Substack appears to no longer be active.

Bossetti collected more than $20 million in the alleged scheme, leading to a loss of at least $11.2 million for investors, prosecutors said.

He allegedly spent the money on luxury housing and vehicles, as well as cryptocurrency investments, which resulted in large losses. Bossetti allegedly paid old investors back with money from new investors.

In June 2022, Bossetti allegedly had one investor wire him $900,000 to his bank account.

He also “willfully aided and assisted in, and procured, counseled, and advised the preparation and presentation” of a fraudulent IRS 1099-INT form, reporting interest income of $4,500, despite the taxpayer never earning any interest. The fraudulent document was allegedly filed to conceal Bossetti’s scheme, according to prosecutors.

Bossetti is charged with wire fraud and aiding in the filing of a false or fraudulent document. If convicted, he would have to forfeit any property that was obtained from money he made on the scheme.

A hearing is scheduled for 11:30 a.m. on June 13, according to court documents.

NBC4 has reached out to both Bossetti and an attorney listed for him in court records for comment. While Bossetti has not replied, the attorney said, “I’m sorry but we won’t have any comment on Tyler’s case.”

Bossetti has at least a dozen civil cases against him and his businesses in the Franklin County Court of Common Pleas, online records show. Many of the cases — dealing with alleged mishandling of money and investments — have been closed, but several remained active as of Wednesday.

In one case, he was sued for owing more than $30,000 in credit card debt on his American Express Business Gold card. The judge ordered Bossetti to pay $31,834.19 to the bank after he “failed to properly answer or otherwise defend although duly served with process according to law by Certified Mail on 11/24/23.”

Bossetti is also named as a defendant in another federal lawsuit, which was closed in August, where he was accused of failing to pay back $1.125 million by Nov. 30, 2022, for a $900,000 loan he received from Oak River Equity Ventures, LLC.

He asked for an extension of the payment deadline after stating that he wouldn’t have the money on time. The two parties agreed to an extension, with Bossetti owing a new amount of $1.162 million, according to the complaint.

Bossetti failed to pay by the new deadline, but told Oak River that the payment was sent on Jan. 13, 2023, which the company said was false.

A judge found that Bossetti was liable to pay a total of $2.26 million plus post-judgment interest due to a 50% interest rate plus a 5% supplemental default interest, according to court documents.

In a second federal lawsuit, Bossetti was accused of failing to pay back another $550,000 loan. A judge ordered him to pay back the loan plus the 20% interest and 5% added on any delinquent principal, according to court records.