Organizer of Utah ‘Alpha Con’ event, ‘The Bull,’ admits to $20M investment scam

A Utah County businessperson, famously referred to as “The Bull” and recognized for his assertive male teachings, has acknowledged defrauding approximately 530 investors of over $20 million. Jeremiah Joseph Evans, who arranged the 2022 ‘Alpha Con’ event in Salt Lake City, entered guilty pleas in a federal court for money laundering and securities fraud charges.

The majority of investors engaged in securities agreements ranging from $30,000 to $40,000 for e-commerce businesses that were allegedly managed by Alpha Influence LLC. Court records reveal that neither Evans nor Alpha Influence possessed the authorization to offer or market securities. Evans collected investments for “Alpha Automated Stores” between July 2019 and July 2022, assuring clients substantial returns of up to 10% per month and complete money recovery within 12 to 18 months.

However, investigators allege that the majority of the finances were used to compensate Evans and those selling the investments as commissions, with only a small fraction allocated to the planned initiation of Alpha Influence’s online stores on Amazon. Prosecutors detailed an incident where Evans diverted $50,000 from the investment scam to acquire a Lamborghini down payment.

A collaborative inquiry by the Utah Division of Securities and the FBI discovered that the 29-year-old Evans made deceptive statements concerning the company’s performance, longevity, and his affiliations with prominent Amazon personnel. Investigators found discrepancies in the success reports for Amazon stores purported to belong to Alpha Influence, exposing the fact that these successes were unrelated to the company. Furthermore, investors were kept in the dark about the infraction of Amazon policies that led to the shutdown of numerous Alpha Influence-operated stores.

Scheduled for April 3, Evans anticipates sentencing at the U.S. District Court in Salt Lake City. Previously, Kole Glen Brimhall, residing in Orem, was convicted of duping around 130 investors into fraudulent contracts as an Alpha Influence sales representative.

In conclusion, Jeremiah Joseph Evans’s financial misdeeds have caused significant harm to numerous investors who had faith in his business ventures. It serves as a powerful reminder of the risks associated with investment opportunities that sound too good to be true, emphasizing the importance of conducting thorough due diligence before engaging in any financial commitments.