Investment Scammer Sentenced to 96 Months’ Imprisonment for Defrauding Alpha Influence Investors of Over $20M

SALT LAKE CITY, Utah – Jeremiah Joseph Evans, aka “The Bull,” 29, of Utah County, Utah, was sentenced today to 96 months’ imprisonment after he admitted to defrauding approximately $20,894,674 from approximately 530 investors in his company Alpha Influence LLC.  

The sentence, imposed by Senior U.S. District Court Judge Tena Campbell, comes after Evans pleaded guilty on January 23, 2025, to securities fraud and money laundering. In addition to his term of imprisonment, Evans was sentenced to three years’ supervised release and ordered to pay $19,134,150.00 in restitution.

According to court documents and statements made at Evans’ change of plea and sentencing hearings, from July 2019 to July 2022, Evans fraudulently sold investments in e-commerce stores through Alpha Influence, LLC., a registered Utah corporation. Evans promised investors to secure money in exchange for the Alpha investments and fraudulently obtained approximately $20,894,674 from approximately 530 investors. As part of his scheme, Evans lied about how successful his company was, how long it was in operation and promised their investment would generate consistent, predictable monthly returns, when it would not. He failed to disclose that testimonials published about Alpha Influence and its success were made by his own relatives or others who received commissions paid from investor proceeds. On one occasion, in July 2021, Evans transferred $50,000 from Alpha Influence LLC’s bank account to make a partial payment for a white Lamborghini Huracan Evo.  

“Crime does not always come in the form of violence and for a number of years, Evans lied about the success of his company and defrauded millions of dollars from investors,” said Acting U.S. Attorney Felice John Viti of the District of Utah. “Protecting the public is a top priority for the Department of Justice and we will continue to work with our law enforcement partners to prosecute criminals and seek justice for crime victims.”

"Today marks a significant step towards justice for the hundreds of Utahns victimized by Jeremiah 'The Bull' Evans' $20 million fraud," says Executive Director of the Utah Department of Commerce, Margaret Busse. "Evans exploited social media and Utahns' strong community ties to lure unsuspecting investors into his scheme and caused significant harm. Schemes like this not only affect individual lives but also erode the overall public trust in legitimate investment opportunities. We deeply appreciate the unwavering dedication of the U.S. Attorney General's Office and the tireless efforts of our own Utah Division of Securities, along with the FBI, in bringing these individuals to justice."

“Like many fraudsters, Mr. Evans was motivated by greed, using his victims’ money to fund a lavish lifestyle,” said Special Agent in Charge Mehtab Syed of the Salt Lake City FBI. “The sentencing shows that stealing for personal gain doesn’t pay. The FBI and our partners will hold accountable those who engage in fraudulent schemes."

The case was investigated jointly by the Utah Division of Securities and the FBI Salt Lake City Field Office.

Assistant United States Attorneys Mark E. Woolf, Jennifer E. Gully, and Brian Williams of the U.S. Attorney’s Office for the District of Utah prosecuted the case.

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