SALT LAKE CITY (KUTV) — A Utah County man who was one-third of the defendants, which includes the founder of the short-lived “Alpha Con” in Salt Lake City, was sentenced to a year and a day in federal prison for his role in a multimillion-dollar affinity fraud scheme that targeted hundreds of victims, many of them Utahns.
Prosecutors said Kole Brimhall,27, and others in Alpha Influence used social media to promote high-yield investment opportunities, promising “life-changing passive income” generated by the company’s so-called “Alpha Influence Team.” From March 2020 to June 2022, Brimhall sold fraudulent securities to approximately 135 investors and collected more than $1 million in commissions.
His was just one part of part of a broader $20 million fraud scheme that preyed on Utah’s working-class residents, who often had little room for financial risk…