In a guilty plea to securities fraud, a Utah County man admitted to defrauding investors by selling investment contracts without a license. According to the U.S. Department of Justice, Kole Glen Brimhall, 27, of Orem, Utah, admitted to defrauding around 130 clients out of over $4.9 million through a Utah organization called Alpha Influence, LLC.
Brimhall unlawfully offered e-commerce sites for sale between March 2020 and June 2022 with the promise of steady, predictable monthly income as passive investments. Brimhall’s inability to offer and sell securities was disclosed during a change of plea hearing. He did not reveal that the majority of the money was transferred into Alpha Influence and then paid out as commissions to sales representatives, including himself, but instead enticed the investors with the promise of a lucrative opportunity.
Brimhall’s sentence is set for March 24, 2025, according to District of Utah U.S. Attorney Trina A. Higgins. The Orrin G. Hatch United States District Courthouse in Salt Lake City will host the hearing. In the meantime, the FBI Salt Lake City Field Office and the Utah Division of Securities are still looking into the issue. The prosecution is led by Assistant United States Attorneys Ruth Hackford-Peer, Brian Williams, and Mark Woolf.
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