Fraudster pleads guilty after fake kidnapping

Prosecutors say a fraudster who tried to cover his tracks with a fake kidnapping has pleaded guilty.

Federal prosecutors say 35-year-old Ryan Lynn Cook of Highland pleaded guilty to securities fraud Thursday in Salt Lake City federal court. Prosecutors say he told investors that his medical recruiting company had $3.8 million in revenue when it had none.

Charging documents say five people invested about $2 million in the scheme. When they grew suspicious earlier this year, prosecutors say that Cook claimed his office had been bugged and his phone tapped by the FBI.

In May, Cook allegedly drove to the west desert, called one of the investors and claimed that his software developer had been kidnapped by the government. The investor called police.

Defense attorney Tara Isaacson says Cook wants to take responsibility for what happened.