A United States federal court in Ohio has convicted popular social media influencer Tyler Bossetti on multiple fraud charges over a transnational Ponzi scheme that netted him over $23 million.

U.S. District Court Judge Algenon Marbley handed down the judgment on June 13, 2025, after Mr Bossetti, a self-acclaimed financial guru with over a million followers on Instagram, pleaded guilty to wire fraud and tax evasion charges following his indictment earlier this year.

He admitted to all charges as part of his plea bargain for lighter sentences.

According to court documents sighted by Peoples Gazette, between 2019 and 2023, the 31-year-old stole over $23 million from unsuspecting investors in the United States and abroad by tricking them into investing in a Ponzi scheme that he marketed as a real estate investment programme.

Through his company, Boss Lifestyle LLC, Mr Bossetti promised investors large rates of return for short-term investments, which he advertised through social media, especially Facebook and YouTube, legal filings showed.

Instead, the defendant misappropriated the investors’ funds by diverting the money into his personal accounts, which he used to fund his expensive lifestyle and make purchases, including rental payments on a housing unit in Columbus, as per court documents.

Prosecutors alleged that Mr Bossetti also used his ill-got wealth to fund his frequent and expensive trips around the world, purchase of a $150,000 Mercedes SUV and various cryptocurrency investments.

He faces more than 20 years in prison. He is due for sentencing later this year.