This is an archived article that was published on sltrib.com in 2015, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.
A judge sentenced a Highland man to two years in federal prison after he admitted obtaining about $2 million from investors by lying to them about the success of his medical personnel recruiting company.
U.S. District Judge Dee Benson also ordered Ryan Lynn Cook to repay investors $1.97 million and to forfeit his home and a 2015 Lexus RC.
Cook pleaded guilty to one count of securities fraud involving his company, HelpMed Inc.
He admitted he falsely told investors that HelpMed earned $3.8 million in revenue when it had no income. He also claimed that the company had 12,000 health care providers in its system who could be connected to hospitals and clinics that needed personnel, when it had only about 100.
He also said the company had signed up about 8,000 hospitals and clinics when it had only five hospitals, court documents show.
Bank records show that Cook transferred investor money to family and friends, with about half of the money going to his uncle, Richard Larsen of Rexburg, Idaho, from whom the Securities and Exchange Commission in a civil lawsuit is seeking a return of the monies as part of a separate lawsuit against Cook.
Cook also bought the house in Highland for $549,111 and the Lexus for $65,715 using investor monies, the SEC alleged. The SEC lawsuit against Cook remains pending in federal court.