Kole Glen Brimhall, a 27-year-old from Orem, Utah, has been sentenced to 12 months and one day in prison for defrauding approximately 135 investors through Alpha Influence, LLC. The fraudulent investment scheme resulted in over $5 million being scammed from victims. Alongside his prison sentence, Brimhall will serve three years of supervised release and must pay a forfeiture money judgment of $1,097,709.82 and restitution amounting to $5,003,400.
U.S. District Court Judge David Sam delivered the sentence following Brimhall's guilty plea on November 18, 2024, to fraud related to the offer and sale of securities. The court documents reveal that between March 2020 and June 2022, Brimhall sold fraudulent investment security contracts as part of Alpha Influence's operations. These investments were heavily promoted via social media with promises of quick passive income through the "Alpha Influence Team."
Acting U.S. Attorney Felice John Viti stated that "Brimhall’s participation in defrauding investors not only left investors in financial devastation but with a loss of trust that can have a lifelong impact in their personal and professional life." Viti emphasized the importance of prosecuting such crimes to deter future affinity fraud schemes.
Margaret Busse, Executive Director of the Utah Department of Commerce, commented on the case: "This $20 million fraud, driven by bold displays and false promises shared on social media, caused significant harm to over 500 Utahns." She added that the sentencing sends a clear message against predatory actions and highlights the collaboration between various agencies to protect Utah investors.
Special Agent in Charge Mehtab Syed from the Salt Lake City FBI noted that many victims were working-class individuals who suffered financially due to Brimhall's actions. Syed stated: "While fraud schemes are not violent in nature, they can be financially and emotionally devastating."
The investigation was conducted jointly by the Utah Division of Securities and the FBI Salt Lake City Field Office. Assistant United States Attorneys Mark E. Woolf, Jennifer E. Gully, and Brian Williams prosecuted the case.
