LOCAL NEWS

Utah County man pleads guilty to securities fraud after scamming over 100 investors

Nov 19, 2024, 4:56 PM

The Orrin G. Hatch United States Courthouse in Salt Lake City (Scott G Winterton, Deseret News)...

The Orrin G. Hatch United States Courthouse in Salt Lake City (Scott G Winterton, Deseret News)

(Scott G Winterton, Deseret News)

SALT LAKE CITY – A Utah County man has pleaded guilty to securities fraud in the Utah District Court on Tuesday.

Kole Glen Brimhall, 27, pleaded guilty to securities fraud, according to a press release from the U.S. Attorney’s office, District of Utah.

According to the release, Brimhall sold investment contracts without a license to about 130 clients, through Alpha Influence, a company he had set up.

A filed charging document states that Brimhall sold those securities for anywhere from $30,000 to 40,000, offering automated stories with a net profit ranging from $4,000 to $7,000 monthly. According to that charging document, prosecutors alleged that Brimhall made nearly $5 million due to his scam.

The charging document also states that Brimhall failed to disclose several facts to prospective investors, including that the securities he was selling weren’t registered in the Utah Division of Securities, he was not licensed to sell those securities, and that “for years, investors did not timely receive their investment returns as promised,” among others.

According to the U.S. Attorney’s office press release, Brimhall would forward the majority of invested capital to his sales agents and his own account, with a small portion actually going to the investors’ stores.

According to the release, Brimhall is scheduled to be sentenced on March 24, 2025, at the Orrin G. Hatch United States District Courthouse.

Kole Glen Brimhall will be sentenced to one count of fraud, related to the offering and sales of securities.

KSL 5 TV Live

Local News

Salt Lake County Search and Rescue responds to an avalanche fatality in Big Cottonwood Canyon on Sa...

Becky Bruce

Avalanche danger to remain “considerable” across Utah, forecaster says

Forecasters expect "considerable" avalanche danger for at least a couple more days, after an active weekend for slides.

1 hour ago

Fresh snow in Franklin Basin on Wednesday, Nov. 27, 2024. Search and rescue teams are searching for...

Kennedy Camarena

12-year-old snowmobiler found after overnight search

Search and rescue teams are searching for a young snowmobiler who went missing while with his family and friends.

2 hours ago

Respiratory illnesses such as the flu, COVID-19, and RSV are on the rise across the U.S....

Michelle Lee

Simple ways to keep respiratory illnesses away

Let’s Get Moving Host Maria Shilaos spoke with Nicole Henry with CVS to learn what we can do to protect ourselves from respiratory illnesses.

3 hours ago

Skiers compete at the Dear Valley World Cup....

Emma Benson

‘Super Bowl of freestyle’: World’s best skiers compete at Deer Valley World Cup

The Super Bowl may be tomorrow, but they call this the Super Bowl of freestyle skiing.

13 hours ago

Construction work on the Cottage Homes development in Sandy on Dec. 9. A study led by a University ...

Logan Stefanich, KSL.com

Mass deportation negatively impacts housing availability, affordability, jobs, Utah study says

A month before President Donald Trump officially took office on Jan. 20, Utah Gov. Spencer Cox reinforced the state's plans to aid the Trump administration in deporting undocumented immigrants living in the country en masse.

13 hours ago

FILE - A snowplow in Little Cottonwood Canyon as the storm hits the road....

Jacob Freeman

7 separate accidents cause delays on I-15 in Lehi

Drivers were experiencing delays Saturday evening after seven separate accidents were reported on Interstate 15 in Lehi.

15 hours ago

Sponsored Articles

holiday gift basket with blue tissue paper and gingerbread cookies...

Kneaders Bakery & Cafe

Holiday hacks for a stress-free season

Get more out of your time with family and loved ones over the holidays by following these tips for a stress-free season.

2 computer techs in a computer shop holding up a computer server with the "hang loose" sign...

PC Laptops

A comprehensive guide to choosing the right computer

With these tips, choosing the right computer that fits your needs and your budget will be easier than ever.

crowds of people in a German style Christmas market...

This Is The Place Heritage Park

Celebrate Christkindlmarket at This Is The Place Heritage Park!

The Christkindlmarket is an annual holiday celebration influenced by German traditions and generous giving.

Image of pretty woman walking in snowy mountains. Portrait of female wearing warm winter earmuff, r...

Lighting Design

Brighten your mood this winter with these lighting tricks

Read our lighting tips on how to brighten your mood in the winter if you are experiencing seasonal affective disorder.

A kitchen with a washer and dryer and a refrigerator...

Appliance Man

Appliance Man: a trusted name in Utah’s home appliance industry

Despite many recent closures of local appliance stores, Appliance Man remains Utah's trusted home appliance business and is here to stay.

abstract vector digital social network technology background...

Les Olson

Protecting yourself against social engineering attacks

Learn more about the common types of social engineering to protect your online or offline assets from an attack.

Utah County man pleads guilty to securities fraud after scamming over 100 investors