An Arlington entrepreneur has admitted to running a years-long scheme that defrauded eight companies of over $2 million. Kiel Brendan Brandt, 34, the owner of Epsilon Acquisition Services, pleaded guilty to wire fraud charges yesterday in federal court.
The Scheme
From early 2021 through late 2022, Brandt duped companies and individuals with false promises about business deals and refunds. According to court records, he fabricated details about pending transactions, invented excuses for delays, and lied about Epsilon’s financial health.
One victimized company, based in Argentina, paid Epsilon $275,000 in refundable fees to secure a buyer for their business. When the deal never materialized, Brandt strung them along with bogus excuses—ranging from “bank holidays” to “payment processing issues.” He even invented a fictitious employee named “Steph” to explain internal delays. Ultimately, Brandt produced fake bank transfer confirmations to convince the company that repayment was on its way.
In another instance, Brandt secured a $1 million bridge loan from a U.S.-based company. He misrepresented Epsilon’s debts and redirected over $700,000 to repay other victims. The rest? Brandt allegedly funneled it into personal accounts and operating expenses.
The Fallout
Brandt defrauded his clients of $2,002,750 but repaid only $193,323. He now owes $1.98 million in restitution as part of his plea agreement. Brandt’s sentencing is scheduled for April 3, 2025, where he faces up to 20 years in prison.
Federal authorities have emphasized that this case highlights the importance of due diligence when working with advisory firms. Victims included international companies and domestic clients, with many left scrambling to recover from Brandt’s fraudulent actions.
While federal guidelines suggest Brandt’s actual sentence will fall short of the 20-year maximum, the extent of his fraud and the harm caused will weigh heavily in the court’s decision.