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Utah Businessman Pleads Guilty to Securities Fraud
A Utah businessman has pleaded guilty to securities fraud and money laundering, admitting to defrauding investors out of over $20 million.
Jeremiah Joseph Evans, 29, of Utah County, was charged with securities fraud and money laundering after admitting to lying to investors and fraudulently selling investment contracts through his company Alpha Influence, LLC, also known as Alpha Automated Stores.
The scheme, which took place from July 2019 to July 2022, involved Evans promising investors consistent, predictable monthly returns from e-commerce stores, despite knowing this was false.
As part of the scheme, Evans fraudulently obtained approximately $20,894,674 from approximately 530 investors, with the majority of the funds going directly to Alpha Influence, LLC, and primarily distributed as commissions to those selling the fraudulent investment and himself.
Evans is scheduled to be sentenced on April 3, 2025, at 1:30 p.m. before a U.S. District Court Judge at the Orrin G. Hatch United States District Courthouse in downtown Salt Lake City.
U.S. Attorney Trina A. Higgins made the announcement, stating that the case is being investigated jointly by the Utah Division of Securities and the FBI Salt Lake City Field Office.
Assistant United States Attorneys Mark Woolf, Brian Williams, and Jennifer E. Gully of the U.S. Attorney’s Office for the District of Utah are prosecuting the case.
The exact criminal charges against Jeremiah Joseph Evans are securities fraud and money laundering, both felony charges.
The city and state where the crime took place is Salt Lake City, Utah.
The exact date of the crime is from July 2019 to July 2022.
Jeremiah Joseph Evans pleaded guilty to the charges, with sentencing scheduled for April 3, 2025.
Key Facts
- State: Utah
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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