Kole Glen Brimhall, the 27-year-old Orem, Utah man who pled guilty to securities fraud last year, has been handed a prison sentence of 12 months and one day. Brimhall was involved in an affinity fraud scheme that bilked over $5 million from investors through his company, Alpha Influence, LLC. In addition to prison time, the court has mandated three years’ supervised release and the payment of restitution and forfeiture amounting to over $6 million in total, according to the U.S. Department of Justice.
The aggressive social media campaign that Brimhall and his team used promised investors swift and substantial passive income, leading to the sale of around 135 fraudulent investment contracts. The fallout of Brimhall's actions has had a significant personal and financial impact on the investors. "Brimhall’s participation in defrauding investors not only left investors in financial devastation, but with a loss of trust that can have a lifelong impact on their personal and professional life," said Acting U.S. Attorney Felice John Viti, as obtained by the U.S. Department of Justice.
Executive Director Margaret Busse of the Utah Department of Commerce condemned the fraudulent activity, stating, "This $20 million fraud, driven by bold displays and false promises shared on social media, caused significant harm to over 500 Utahns," as per the U.S. Department of Justice. She emphasized the commitment to protect Utah investors and the collaborative efforts that resulted in Brimhall's sentencing.
