A Utah County man has entered a guilty plea for securities fraud, acknowledging his role in swindling investors through unlicensed sales of investment contracts. Kole Glen Brimhall, 27, of Orem, Utah, conceded to bilking more than $4.9 million from roughly 130 clients through a Utah corporation known as Alpha Influence, LLC, as reported by the U.S. Department of Justice.
From March 2020 to June 2022, Brimhall illegally sold e-commerce stores promising consistent, predictable monthly returns as passive investments. During a change of plea hearing, it was revealed that Brimhall was not authorized to offer and sell securities. However, he lured the investors with the pretense of a profitable opportunity, failing to disclose that the majority of funds were funneled into Alpha Influence and subsequently distributed as commissions to sales agents, including himself.
U.S. Attorney Trina A. Higgins of the District of Utah announced that Brimhall’s sentencing is scheduled for March 24, 2025. The proceeding will take place at the Orrin G. Hatch United States District Courthouse in Salt Lake City. Meanwhile, the case continues to be the subject of an ongoing investigation 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 in charge of the prosecution.
