Trina A. Higgins, U.S. Attorney | U.S. Attorney's Office for the District of Utah
A Utah businessman has admitted to defrauding investors of over $20 million through his company, Alpha Influence, LLC. Jeremiah Joseph Evans, also known as "The Bull," pleaded guilty to charges of securities fraud and money laundering in a Salt Lake City court.
Court documents reveal that between July 2019 and July 2022, Evans misled investors by selling fraudulent investment contracts for e-commerce stores under the name "Alpha Automated Stores." He falsely assured investors of consistent returns and misrepresented the success and duration of his company's operations. Approximately 530 investors were affected, with total losses amounting to nearly $20.9 million.
Evans failed to inform investors that most funds were directed to Alpha Influence, LLC, largely distributed as commissions rather than being invested in the promised ventures. His sentencing is set for April 3, 2025, at the Orrin G. Hatch United States District Courthouse in Salt Lake City.
U.S. Attorney Trina A. Higgins announced the case's developments. The investigation is a joint effort by the Utah Division of Securities and the FBI Salt Lake City Field Office. Prosecutors Mark Woolf, Brian Williams, and Jennifer E. Gully are handling the case.
