A Utah businessman has pleaded guilty to charges of securities fraud and money laundering, admitting to defrauding investors through his company, Alpha Influence, LLC. Jeremiah Joseph Evans, known as "The Bull," was charged on January 21, 2025.
Court documents reveal that between July 2019 and July 2022, Evans misled investors by selling fraudulent investment contracts for e-commerce stores through Alpha Influence. He falsely assured investors of secure returns while concealing that most funds were used for commissions rather than the purported investments. The scheme involved approximately $20.8 million from around 530 investors.
Evans is set to be sentenced on 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 progress. The investigation is a joint effort by the Utah Division of Securities and the FBI Salt Lake City Field Office.
Assistant U.S. Attorneys Mark Woolf, Brian Williams, and Jennifer E. Gully are handling the prosecution.