Two Utah County men sentenced to federal prison for $18 million investment fraud

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FAYETTEVILLE, Ark. — Four men, including two from Utah, have been sentenced for their roles in what prosecutors say is an $18 million global investment fraud scheme.

Kevin Griffith, 68, of Orem, was sentenced last week to 12 1/2 years in federal prison, and Alexander Ituma, 57, of Lehi, was sentenced to just over eight years. The other two, John C. Nock, 55, of Fayetteville, Ark., were sentenced to nearly 21 years in prison, and Brian Britsan, 67, of Boise, was sentenced to 10 years in prison. received.

The four were involved in an investment fraud scheme through an entity known as the Brittingham Group, set up by Mr Nock.

“Together, the four defendants misrepresented the nature of their investment solicitations and promised victims huge profits that the defendants were unable to generate and did not generate. To conceal the money, Nock and Brissan instructed the victim to transfer the money to bank accounts controlled by Griffith, Ituma, and other co-conspirators. Once the money was in the hands of the co-conspirators, the defendants “routed the victims’ money through a complex web of bank accounts around the world,” the US statement said. Department of Justice.

The men were convicted by a federal jury in Arkansas in September.

Starting in 2013, Nok and Britsan “promised huge returns of 200% or 300% within 20 to 30 days in a short period of time. They also guaranteed the safety of the victims’ principal payments by sending letters “on political party letterhead, including financial institution letterhead,” according to the charges.

“For nearly a decade, these defendants brazenly and repeatedly lied to investors, defrauding them of more than $18 million, and committing crimes through a complex of bank accounts around the world,” Assistant Attorney General Nicole M. Argentieri said in a statement. “They were laundering the proceeds.” said the Justice Department’s Bureau of Criminal Investigation in a statement.

“The victims in this case were promised a lucrative investment opportunity, but what they received was a conspiracy of lies and fraud,” said Michael D. Nordwall, assistant director of the FBI’s Criminal Investigation Division. Stated.

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