BOISE — A Pocatello man with multiple aliases will spend the next 10 years in prison for defrauding investors out of as much as $3.5 million, U.S. Attorney Bart Davis announced on Wednesday.
Rick Guyon, 59, was sentenced by Judge Edward J. Lodge at the U.S. Courthouse in Boise on Tuesday. Guyon’s sentence also includes three years of parole following his release from prison and he must pay nearly $2 million in restitution to his victims.
Guyon pleaded guilty to one count of wire fraud in June of 2018 after being indicted by a grand jury. Federal prosecutors dropped several other charges against him in exchange for his guilty plea.
Authorities said he went by the aliases Richard Guyon, Rick Garrison and Mark Thomas while committing his crimes.
The U.S. Attorney’s Office said in a press release that “from 2015 through 2017, Guyon devised a scheme to defraud individual investors. The scheme involved soliciting $1,956,400 from investors based on false and fraudulent representations about Guyon’s education, employment history, and financial condition, false and fraudulent representations that the money would be invested in financial markets, and that he would not collect any commissions on the investments.”
But federal prosecutors said Guyon spent investors’ money on “personal expenses” and “to cover up what he had done, Guyon provided investors with false and fraudulent monthly account statements showing positive returns on investments.”
The U.S. Attorney’s Office said that the $1,956,400 Guyon got from investors actually “resulted in an actual loss of between $1.5 million and $3.5 million” to those investors.
Federal prosecutors said that one of Guyon’s victims, who they referred to as R.F. in their press release, lost about $1,281,783 and “acted as an organizer and leader” who recruited other investors to give money to Guyon not realizing they were all being defrauded.
The case was investigated by the FBI.