Tyler Tysdal and Cobalt Sports Capital LLC – SEC Charges Real Estate Developer with Misleading Investors | Recover Investment Losses

Tyler Tysdal and Cobalt Sports Capital LLC – SEC Charges Real Estate Developer with Misleading Investors | Goodman & Nekvasil P.A. May Recover Investor Losses

According to the SEC:

The Securities and Exchange Commission today announced settled fraud charges against Tyler T. Tysdal of Lone Tree, Colorado, for his role in multiple schemes to defraud investors.

First, the SEC’s order finds that between January 2014 and October 2016, Tysdal and his business partner Grant M. Carter of Johns Creek, Georgia, defrauded investors of Cobalt Sports Capital, LLC, an entity they formed to make loans to athletes and sports agencies. According to the SEC’s order, rather than using investor proceeds to make loans to athletes, Tysdal and Carter diverted over $15 million to the cash-strapped startup portfolio companies of Impact Opportunities Fund, L.P., a private fund that Tysdal managed through his investment adviser Impact Opportunities Fund Management, LLC (IOFM) and concealed those loans from debt investors in Cobalt. Ultimately, each of the portfolio companies failed, resulting in significant losses to debt investors in Cobalt.

Second, the SEC order finds that Tysdal and IOFM defrauded the Impact Opportunities Fund and its investors by, among other things, charging the fund undisclosed monitoring fees, a portion of which went to Tysdal.

Third, the SEC order finds that Tysdal defrauded private fund TitleCard Capital 1Fund, L.P. and its investors through two advisers that he controlled, TitleCard Capital Management, LLC (TCCM) and TitleCard Capital Group, LLC (TCCG). According to the order, Tysdal and the two advisers breached the fund’s concentration limits by causing the fund to purchase Cobalt from Impact Opportunities Fund at the end of 2015. The order finds that TCCG and Tysdal defrauded the fund and its investors by falsely valuing the fund’s investment in Cobalt in reports to investors, effectively concealing the concentration limit breaches.

The SEC also announced settled charges against two other individuals, Britt J. Haugland and Michael A. DeJager, for their roles in Tysdal and Carter’s fraudulent schemes. The SEC’s order related to Haugland finds that she assisted Tysdal and Carter’s scheme to divert investor funds from Cobalt to the portfolio companies, while the SEC order related to DeJager finds that he was a cause of TCCG’s violations.

Investors with Tyler Tysdal and/or Cobalt Sports Capital LLC May Recover their Losses with Goodman & Nekvasil, P.A.

If you invested with Tyler Tysdal and/or Cobalt Sports Capital LLC, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $200 million dollars on behalf of victimized investors.

All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.

There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

If you incurred investment losses with Tyler Tysdal and/or Cobalt Sports Capital LLC and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.

 

 

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