Ryan Richard West, Defrauding Investors, Utah 2022

Utah Man Sentenced to 5 Years for Defrauding Investors

SALT LAKE CITY, Utah – In a brazen scheme to swindle unsuspecting investors, Ryan Richard West, along with his co-defendant Gary Alan Gygi, bilked numerous individuals out of their hard-earned cash. The U.S. Attorney's Office for the District of Utah worked tirelessly to bring these perpetrators to justice.

On February 23, 2022, West was sentenced to five years in federal prison for his role in the fraud scheme. The scheme involved defrauding numerous individuals in business venture investment schemes. The total amount recovered as part of the settlement was $265,455.45.

West's co-defendant, Gary Alan Gygi, was also sentenced separately for his involvement in the scheme. The U.S. Attorney's Office for the District of Utah collected a total of $10,690,252.06 in criminal and civil actions in Fiscal Year 2022, with $5,550,041.48 collected in criminal actions and $5,140,210.58 collected in civil actions.

The District of Utah worked with other U.S. Attorney's Offices and components of the Department to collect an additional $1,863,335.61 in cases pursued jointly by these offices. Of this amount, $11,775.00 was collected in criminal actions and $1,851,560.61 was collected in civil actions.

According to U.S. Attorney Trina A. Higgins for the District of Utah, the United States Attorney's Office is committed to the prosecution of crimes involving financial fraud and seeking recovery for victims in these cases.

The U.S. Attorneys' Offices, along with the department's litigating divisions, are responsible for enforcing and collecting civil and criminal debts owed to the U.S. and criminal debts owed to federal crime victims. The law requires defendants to pay restitution to victims of certain federal crimes who have suffered a physical injury or financial loss. While restitution is paid to the victim, criminal fines and felony assessments are paid to the department's Crime Victims Fund, which distributes the funds collected to federal and state victim compensation and victim assistance programs.

Source: https://www.justice.gov/usao-ut/pr/us-attorneys-office-district-utah-collects-more-10-million-civil-and-criminal-actions