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SALT LAKE CITY — Two Utah men were indicted earlier this month in an Arkansas federal court in connection with an alleged investment fraud scheme that netted $16 million for four men.
Kevin Griffith, 66, of Orem, and Alexander Ituma, 55, of Lehi, both face 11 charges each, as both face nine counts of wire fraud, one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering, according to court records. Two other men — John Nock, of Arkansas, and Brian Brittsan, of California — face the same set of charges. Nock also faces one count of money laundering.
The four allegedly ran an investment fraud scheme through their firm — the Brittingham Group — between 2013 and 2021, according to a news release from the U.S. Attorney's Office for the Western District of Arkansas. The men are accused of promising large returns on their investments, though such returns were not something they could produce.
Charging documents allege that Nock and Brittsan would offer people "strategic agreements" under the guise that they would receive large returns — as much as 200% to 300% gains — within 20 to 30 days. However, the group is accused of taking those funds and funneling the money to Griffith, Ituma and others before sending the funds to bank accounts around the globe.
Federal law enforcement wants the group to forfeit at least $16 million, which investigators believe represents the gross proceeds for the alleged offenses, court documents state.
The four each made their initial appearances in Arkansas court Wednesday, according to online court records. Each of the four pleaded not guilty to their respective charges and posted bond amounts before being released. All four are expected back in court in April for pretrial conference hearings.
