In a startling admission of guilt, Utah businessman Jeremiah Joseph Evans, known as "The Bull" and head of Alpha Influence LLC, has pleaded guilty to charges of securities fraud and money laundering, according to the U.S. Department of Justice. Evans, who faced prosecution for his role in devising a fraudulent investment scheme that duped investors out of more than $20 million, entered his plea following charges filed on January 21.
Evidence presented at the plea change hearing recounted how from mid-2019 to mid-2022, Evans sold investments in e-commerce stores, falsely assuring steady and predictable returns despite knowing the claims were unsubstantiated, not only did he pocket a majority of the invested funds for Alpha Influence LLC, but he also handed out hefty commissions to his associates involved in selling the sham investments. Approximately 530 investors were collectively bilked out of a whopping $20,894,674.
Scheduled for sentencing on April 3, Evans awaits his fate at the Orrin G. Hatch United States District Courthouse, where his courtroom rendezvous is set for 1:30 p.m. Meanwhile, the case continues to develop at the hands of investigators from the Utah Division of Securities and the FBI's Salt Lake City Field Office, with Assistant United States Attorneys Mark Woolf, Brian Williams, and Jennifer E. Gully leading the prosecution.
