A Utah man has been sentenced to three years in federal prison for defrauding investors and running an illegal cash-to-cryptocurrency operation that moved millions of dollars, according to U.S. prosecutors.
Brian Garry Sewell, 54, received a 36-month prison sentence followed by three years of supervised release after pleading guilty to wire fraud. Authorities say the fraud caused losses of more than $2.9 million to investors. In a related case, Sewell also admitted to operating an unlicensed money-transmitting business that converted over $5.4 million in bulk cash into cryptocurrency for third-party clients, including individuals tied to fraud and drug trafficking.
The sentences will run concurrently, meaning Sewell will serve a total of three years behind bars, the U.S. Attorney’s Office for the District of Utah confirmed.
In addition to prison time, U.S. District Court Judge Ann Marie McIff Allen ordered Sewell to pay $3.82 million in restitution. That amount includes more than $3.6 million to defrauded investors, a mortgage lender, and a credit union, as well as $217,727 to the U.S. Department of Homeland Security.
Prosecutors said Sewell’s investment scheme ran from December 2017 through April 2024. During that period, he solicited money and cryptocurrency from at least 17 investors by misrepresenting his education, professional background, and ability to generate consistent high returns. Authorities said those claims were false and ultimately left victims with significant financial losses.
“Sewell preyed on his victims by lying about his experience and promising returns he could not deliver,” said Robert Bohls, special agent in charge of the FBI’s Salt Lake City field office. “Individuals and families were left to bear the consequences of his deception.”
Separately, from March through September 2020, Sewell operated Rockwell Capital Management as an unlicensed money-transmitting business. Prosecutors said he charged fees to convert large amounts of cash into cryptocurrency while failing to comply with federal registration, reporting, and anti-money laundering requirements.
The case comes as authorities continue to warn about the growing scale of cryptocurrency-related crime. According to blockchain analytics firm Chainalysis, illicit cryptocurrency addresses received an estimated $154 billion in 2025, a sharp increase from the revised $57.2 billion reported the year before.
Sewell’s sentencing highlights ongoing efforts by federal agencies to crack down on fraud and illegal financial activity involving digital assets, as regulators seek to keep pace with the rapid growth of cryptocurrency markets.
