Jeremiah Joseph Evans, known as "The Bull," has been sentenced to 96 months in prison for defrauding investors of over $20 million through his company, Alpha Influence LLC. The sentence was handed down by Senior U.S. District Court Judge Tena Campbell after Evans pleaded guilty to securities fraud and money laundering on January 23, 2025. In addition to the prison term, Evans will serve three years of supervised release and must pay $19,134,150 in restitution.
Court documents reveal that from July 2019 to July 2022, Evans sold fraudulent investments in e-commerce stores via Alpha Influence LLC. He misled approximately 530 investors about the company's success and longevity, falsely promising consistent monthly returns. Testimonials supporting Alpha Influence's success were fabricated by relatives or individuals who received commissions from investor funds. In one instance, Evans used $50,000 from the company's account for a partial payment on a Lamborghini Huracan Evo.
Acting U.S. Attorney Felice John Viti stated, "Crime does not always come in the form of violence and for a number of years, Evans lied about the success of his company and defrauded millions of dollars from investors." Viti emphasized the Department of Justice's commitment to protecting the public and prosecuting criminals.
Margaret Busse, Executive Director of the Utah Department of Commerce, remarked on the impact of Evans' actions: "Today marks a significant step towards justice for the hundreds of Utahns victimized by Jeremiah 'The Bull' Evans' $20 million fraud." She highlighted how schemes like this damage public trust in legitimate investments.
Special Agent in Charge Mehtab Syed of the Salt Lake City FBI commented on Evans' motivations: “Like many fraudsters, Mr. Evans was motivated by greed, using his victims’ money to fund a lavish lifestyle.” Syed affirmed that fraudulent activities would be met with accountability.
The investigation was conducted by the Utah Division of Securities and the FBI Salt Lake City Field Office. The case was prosecuted by Assistant United States Attorneys Mark E. Woolf, Jennifer E. Gully, and Brian Williams.
