A Utah County man has admitted to securities fraud, confessing to deceiving investors and unlawfully selling investment contracts without a license. Kole Glen Brimhall, 27, from Orem, Utah, pleaded guilty to these charges in connection with fraudulent activities conducted through Alpha Influence, LLC.
Court documents reveal that between March 2020 and June 2022, Brimhall sold investments in e-commerce stores via Alpha Influence, LLC., a registered corporation in Utah. Despite lacking the necessary licensing to offer and sell securities, Brimhall marketed these e-commerce stores as passive investments promising consistent monthly returns. However, he did not disclose that most of the invested funds were funneled directly to Alpha Influence, LLC for distribution as commissions among sales agents including himself. Only a small portion of the funds was allocated to service the investors' stores.
Brimhall's sentencing is set for March 24, 2025, at 8:30 a.m. in courtroom 3.4 before a U.S. District Court Judge at the Orrin G. Hatch United States District Courthouse in Salt Lake City.
The announcement was made by U.S. Attorney Trina A. Higgins of the District of Utah.
The investigation is being conducted jointly by the Utah Division of Securities and the FBI Salt Lake City Field Office.
Assistant United States Attorneys Mark Woolf, Brian Williams, and Ruth Hackford-Peer are prosecuting this case on behalf of the U.S. Attorney’s Office for the District of Utah.