- Utah entrepreneur Brian Sewell misplaced greater than $2.9 million to 17 buyers.
- He was sentenced to a few years in federal jail for wire fraud involving unauthorized cryptocurrency transactions.
- He additionally moved practically $5.4 million via unauthorized cash-to-cryptocurrency providers.
Southern Utah entrepreneur Brian Garry Sewell was sentenced to a few years in federal jail on January 15, 2026 by the Utah U.S. Lawyer’s Workplace. Prosecutors have linked him to a long-running wire fraud scheme involving digital currencies. Authorities say Mr. Sewell persuaded buyers at hand over their funds and digital belongings by selling himself as an skilled skilled who might usher in massive earnings.
The investigation discovered that Sewell price buyers greater than $2.3 billion in losses. As well as, Sewell admitted to working a cash-to-cryptocurrency enterprise with out a license, and Service investigators mentioned he contributed to the motion of huge quantities of suspicious funds.
Court docket outlines fraud and losses for buyers
Based on federal court docket data, Sewell ran the funding scheme from December 2017 to April 2024. Throughout that point, prosecutors mentioned it raised cash from a minimum of 17 buyers.
He relied on false claims about his background and accomplishments to safe extra deposits. Consequently, victims trusted him with funds that by no means delivered the promised outcomes.
Decide Ann Marie McHud Allen sentenced Sewell to 36 months in jail, adopted by three years of supervised launch. Moreover, the court docket ordered Sewell to pay $3,605,182 in restitution in reference to the wire fraud case.
Repayments will go to defrauded buyers, mortgage lenders and credit score unions. Officers mentioned the damages replicate each direct losses and associated financial damages associated to the conduct.
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Unlicensed cash-to-crypto companies come underneath scrutiny
Sewell was dealing with prices for working an unlicensed cash switch enterprise from March 2020 to September 2020, separate from the investor case. Based on court docket paperwork, Mr. Sewell ran Rockwell Capital Administration, which dealt with bulk money conversions into cryptocurrencies. Prosecutors mentioned the corporate moved greater than $5.4 million via these transactions.
Investigators mentioned the service was utilized by third events, together with criminals concerned in fraud and drug trafficking. Moreover, authorities mentioned Sewell collected the charges in disregard of federal compliance guidelines that assist spot and cease soiled cash. The court docket ordered Sewell to repay an extra $217,727 in restitution to the U.S. Division of Homeland Safety.
Federal businesses give attention to enforcement
Importantly, this ruling combines the 2 felony circumstances into one jail sentence, because the choose ordered each sentences to be served concurrently. Subsequently, Mr. Sewell’s time period will probably be for a complete of three years. The investigation concerned the IRS Felony Investigation, the FBI in Salt Lake Metropolis, and Homeland Safety Investigations.
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