SALT LAKE CITY — A Logan man was sentenced to five years in federal prison for defrauding multiple victims of over $5.4 million between 2011 and 2016.
According to the Department of Justice, in addition to time in prison, 45-year-old Ryan R. West was ordered to be on supervised release for three years and also pay $5,420,206.98 in restitution to his victims and forfeit $5,261,755.73 in proceeds and a 4-carat diamond.
Special agents from the FBI found that West first started asking for investments from an individual for a gravel quarry business located in West Texas.
Instead of using the money he received for the business, he used it for personal expenses, including payments on a 4-carat diamond, the Department of Justice revealed in a press release Wednesday.
West also borrowed money for the quarry against the equity in the home of an individual he met through church and when he defaulted on the loans, the victim lost his home in foreclosure.
“The United States Attorney’s Office is committed to prosecuting fraudsters who prey on vulnerable members of our community,” said Acting United States Attorney Andrea T. Martinez. “Our thoughts are with the victims of this case, some of whom were elderly, vulnerable and met West through church, business and family connections.”
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