A Utah County man has been sentenced to 96 months in prison for defrauding investors out of over $20 million.
Jeremiah Joseph Evans, 29, aka ‘The Bull,’ was sentenced on January 23, 2025, to 96 months’ imprisonment for securities fraud and money laundering.
According to court documents, Evans sold investments in e-commerce stores through his company Alpha Influence LLC from July 2019 to July 2022. He promised investors that their money would generate consistent, predictable monthly returns, but he failed to disclose that the testimonials about Alpha Influence’s success were made by his own relatives or others who received commissions paid from investor proceeds.
Evans also transferred $50,000 from Alpha Influence LLC’s bank account to make a partial payment for a white Lamborghini Huracan Evo in July 2021.
Evans was ordered to pay $19,134,150.00 in restitution as part of his sentence.
‘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,’ said Acting U.S. Attorney Felice Viti.
The case was investigated jointly by the Utah Division of Securities and the FBI Salt Lake City Field Office, and was prosecuted by Assistant United States Attorneys Mark E. Woolf, Jennifer E. Gully, and Brian Williams.
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Key Facts
- State: Utah
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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