A Texas financial adviser who styled herself as a media money expert has pleaded guilty to defrauding clients through a Ponzi scheme. Brooklynn Chandler Willy, 46, admitted six counts of wire fraud, conspiracy to commit wire fraud, engaging in monetary transactions involving assets derived from illegal activities, aggravated identity theft, and conspiracy to commit money laundering.
Willy hosted a weekend radio show and made regular appearances on local media, using her role to convince clients to invest in Ferrum Capital, a company run by her business partners Joshua Allen and Michael Cox. Federal prosecutors said she used her two firms, Queen B Advisors LLC, trading as Texas Financial Advisory, and Chandler Capital Holdings, to carry out the scheme, which stole millions from hundreds of clients across the country.
Court documents detail how Willy advised one married couple to invest $500,000 in a Ferrum entity in May 2021, but instead used the money for personal credit card payments, payments to other investors, and another business she owned. In a separate case, she persuaded another couple to invest approximately $2 million in an associate's company, promising the funds would be used to purchase bad debt and other legitimate investments, but again diverted the money for her own benefit. Two other investors were convinced to hand over $75,000 and $600,000 respectively for what Willy claimed were legitimate business investments.
The FBI and IRS began investigating in 2023 after civil lawsuits accusing her of fraud mounted. In court on Thursday, Willy apologised to her victims, saying: 'I took money. I was a crook. I'm very sorry.' One victim reportedly shouted back: 'I hope you rot in prison.'
Willy remains free on a $40,000 unsecured bond ahead of her sentencing on September 28. She faces up to 20 years in prison for each wire fraud charge, ten years for the monetary transactions count, and a minimum of two years for aggravated identity theft. Allen and Cox have pleaded not guilty and are scheduled for trial on August 10, with a deadline of July 31 to submit a plea deal.
