San Antonio Financial Advisor Pleads Guilty to Multimillion-Dollar Ponzi Scheme
A San Antonio financial advisor who cultivated a public profile through regular television and radio appearances has pleaded guilty to federal charges related to a long-running Ponzi scheme. Brooklynn Chandler Willy, 46, entered the plea on Thursday before U.S. District Judge Fred Biery, admitting to wire fraud, money laundering conspiracy, and aggravated identity theft, according to the U.S. Attorney’s Office for the Western District of Texas.
During the court hearing, victims of the financial scheme packed the gallery. According to reports in the San Antonio Express-News, Willy admitted to the wrongdoing, stating, "I took money. I was a crook. I’m very sorry." She faces significant prison time, with up to 20 years on each of the wire fraud and money laundering conspiracy counts.
Background and Context
Willy owned and operated Queen B Advisors LLC, doing business as Texas Financial Advisory (TFA), and Chandler Capital Holdings. While presenting itself as a legitimate asset management firm, TFA was the subject of prior civil lawsuits accusing Willy of securities violations. The federal investigation, which involved the FBI and the IRS, led to her arrest in November 2024.
Authorities allege the scheme dates back to at least 2018. Willy utilized her media presence, including programs on WOAI-AM and KTSA-AM/FM, to promote her investment products and build trust with potential clients. Following her arrest, the radio stations discontinued her programs.
Key Figures and Entities
Court filings identify Joshua Allen and Michael Cox as co-defendants in the case. Both men are associated with Ferrum Capital and other entities that received client funds. They are currently scheduled for a jury trial in August. The proceedings are overseen by U.S. District Judge Fred Biery in the Western District of Texas.
Willy acted as the primary agent for the investments, using her companies, Queen B Advisors and Chandler Capital Holdings, to interface with victims. The U.S. Attorney’s Office alleges that Willy conspired with Allen and Cox to provide false information to investors, obscuring the true destination of their capital.
Legal and Financial Mechanisms
The mechanics of the fraud involved diverting client funds into accounts controlled by Willy and her associates rather than the promised legitimate investments. In one instance detailed in court documents, Willy urged a couple to invest $500,000 through Chandler Capital Holdings for a Ferrum-tied company. Instead, authorities allege she used the money for personal credit card payments and to pay other investors, maintaining the appearance of solvency.
In a separate scheme, Willy convinced another couple to invest $2 million in an associate's company. Prosecutors state these funds were misappropriated for her own benefit and that of her associates. Furthermore, federal filings accuse Willy of forging client signatures in an attempt to mislead investigators probing her activities.
International Implications and Policy Response
While the case is centered in San Antonio, it highlights broader regulatory challenges regarding investment fraud and the misuse of media platforms to solicit victims. The guilty plea underscores the effectiveness of multi-agency task forces, with the FBI and IRS playing crucial roles in unraveling the complex financial web.
Willy remains free on a $40,000 bond pending her sentencing on September 28. The court will determine the final sentence based on federal sentencing guidelines and the statutory maximums, which carry severe penalties for financial crimes involving money laundering and identity theft.
Sources
This report draws on court documents and public statements from the U.S. Attorney’s Office for the Western District of Texas, as well as reporting by the San Antonio Express-News.
