CRIME

Logan man sentenced to 5 years in federal prison on investment schemes

Dec 14, 2021, 8:24 PM
(Getty Images)...
(Getty Images)
(Getty Images)

SALT LAKE CITY — A Logan man was sentenced to five years in federal prison last week for defrauding numerous individuals involved in his business venture investment schemes.

Ryan R. West, 45, had pled guilty in August to four counts of wire fraud connected to his unlawful schemes.

According to a press release from U.S. Attorney’s Office for the District of Utah, West had swindled his victims out of roughly $5.4 million between 2011 and 2016.

In addition to the time in federal prison, West was also ordered to three years of supervised release. He is ordered to pay more than $5.4 million in restitution to his victims. He will also forfeit $5,261,755.73 in proceeds and a 4-carat diamond.

According to the press release, West’s first unlawful scheme involved soliciting investments from people for a business venture in operating a gravel quarry in western Texas. His second scheme involved investments from individuals for a commercial property flipping venture in North Dakota.

In the Texas case, West used the money for personal expenses, including a 4-carat diamond and other business expenses. Additionally, he did not return any of the money to the investors.

In the North Dakota case, West borrowed roughly $650,000 from investors. He sold North Dakota property for $190,000 and kept all of the money.

Gary Alan Gygi, 57, of Holladay, is West’s co-defendant in the case. Gygi also pled guilty in August and will be sentenced on Thursday.

Read more:

 

Today’s Top Stories

Crime

Provo Police need help to identify and locate a suspect in a 2020 cold case shooting that happened ...
Devin Oldroyd

Provo Police Department asking for help solving a 2020 cold case

Provo Police need help to identify and locate a suspect in a 2020 cold case shooting that happened at the Missionary Training Center.
4 days ago
salt lake mayorMendenhall guns...
Curt Gresseth

After NY law is struck down, two Utah experts sound off on gun rights

Two advocates on either side of the gun-control vs. gun rights debate sound off on the Supreme Court's 6-3 ruling to expand the right to carry a firearm in public.
4 days ago
A men’s maximum-security unit in the new Utah State Correctional Facility in Salt Lake City is pi...
Lindsay Aerts

State leaders cut the ribbon on new Utah State Correctional Facility

After five years of construction, a ribbon cutting ceremony for the new Utah State Correctional Facility, located west of the Salt Lake City International Airport, was held Wednesday.
5 days ago
Salt Lake City Police are looking into a pair of armed bank robberies Tuesday night in the Salt Lak...
Mark Jones

Update: SLC armed robbery suspect taken into custody

Salt Lake City police are searching for Tanner Cram, age 27, a suspect behind a pair of alleged armed bank robberies Monday evening.
6 days ago
Salt Lake City Police Department recently conducted a speed enforcement operation, which resulted i...
Mark Jones

SLCPD issues 96 citations in recent speed enforcement operation

Salt Lake City Police handed out 96 citations to drivers, and issued 18 warnings to other drivers in a recent speed enforcement operation.
6 days ago
Speed limit sign that says the limit is 80 mph. The Washington County sheriff's office made a drug ...
Mark Jackson

Washington County Sheriff’s Office makes drug bust during traffic stop

The Washington County Sheriff's Office said one of its deputies kicked off the drug bust by making a traffic stop on I-15.
6 days ago

Sponsored Articles

Tax Harassment...
Jordan Wilcox

The best strategies for dealing with IRS tax harassment | You have options!

Learn how to deal with IRS tax harassment. This guide will teach you how to stop IRS phone calls and letters, and how to handle an IRS audit.
spend a day at Bear Lake...
Bear Lake Convention and Visitors Bureau

You’ll love spending the day at Bear Lake | How to spend a day at Bear Lake

Bear Lake is a place that needs to be experienced. Spend a day at Bear Lake.
Curb Appeal...
Price's Guaranteed Doors

How to have the best of both worlds for your house | Home security and curb appeal

Protect your home and improve its curb appeal with the latest security solutions like beautiful garage doors and increased security systems.
Prescription opioids can be disposed of during National Prescription Take Back Day...
Know Your Script

Prescription opioid misuse | How to protect your family from the opioid epidemic

Studies have shown that prescription opioid misuse has increased since COVID-19. So what do you need to know about these opioids?
Follow @ikeyospe...

Tax Tuesday: The Most Common Mistakes People Make When Filing Their Taxes

Fortunately, for most average earners, they will not end up owing overpayments received for the Child Tax Credit in 2021.
Follow @ikeyospe...

Tax Tuesday: How will last year’s child tax credits affect you?

Fortunately, for most average earners, they will not end up owing overpayments received for the Child Tax Credit in 2021.
Logan man sentenced to 5 years in federal prison on investment schemes