Female TV star hailed as top investment expert destroys life and career after her smoke-and-mirrors scheme was exposed
A Texas financial adviser who branded herself as a media money expert has admitted to defrauding her clients and running a Ponzi scheme.
Brooklynn Chandler Willy, 46, pleaded guilty on Thursday to six counts of wire fraud, as well as conspiracy to commit wire fraud, engaging in monetary transactions involving assets derived from illegal activities, aggravated identity theft and conspiracy to commit money laundering.
Federal prosecutors said Willy and her business partners, Joshua Allen and Michael Cox from Ferrum Capital, stole millions of dollars from hundreds of clients across the country.
Willy hosted a weekend radio show where she shared her 'knowledge and expertise with listeners,' and made regular appearances on local media, according to her website.
She was accused of using her two companies, Queen B Advisors LLC, which did business as Texas Financial Advisory, and Chandler Capital Holdings, as well as her position as a so-called money expert. to convince clients to invest in Ferrum Capital.
The FBI and IRS began a criminal investigation into their scheme in 2023 after their clients' lawsuits accusing them of fraud began piling up.
Investigators found that, at Willy's recommendation, a married couple invested in Ferrum Capital in March 2018, according to the US Attorney's Office.
Then, in May 2021, she again advised the couple to invest $500,000 with another Ferrum entity, using Chandler Capital Holdings.
Financial adviser Brooklynn Chandler Willy, 46, admitted to defrauding her clients and running a Ponzi scheme
Willy hosted a weekend radio show where she shared her 'knowledge and expertise with listeners,' and made regular appearances on local media
However, instead of investing, prosecutors said Willy used the $500,000 for her own purposes, including personal credit card payments, payments to other investors, and payments to another business owned and controlled by Willy.
In another instance, Willy convinced a separate married couple to invest approximately $2 million in an associate's company by promising that the investment would be used to purchase bad debt and other legitimate investments.
Investigators found that Willy used the money for her own benefit, including payments to herself, her associate and other investors.
She is also accused of convincing two other investors to invest $75,000 and $600,000, respectively, into what Willy claimed were legitimate business investments, which she used for her own benefit.
In court on Thursday, the San Antonio Express-News reported that Willy apologized to her victims.
'I took money. I was a crook. I'm very sorry,' Willy said. 'I wish I had been able to talk to you before this.
'I'm very sorry. I hate that we're going through this. I hate that I've put you through this. I am doing everything in my power to pay [you] back. I mean, everything that I can do and give. I'm so committed to making right what I've done wrong.
'I think about you all the time,' she added. 'I hate that you're going through this. I hate that this has affected your life, your retirements, your families' lives.'
Prosecutors said Willy and her business partners, Joshua Allen and Michael Cox from Ferrum Capital, stole millions of dollars from hundreds of clients across the country
The FBI and IRS began a criminal investigation into their scheme in 2023 after their clients' lawsuits accusing them of fraud began piling up
A victim who was attending court reportedly snapped at Willy, saying, 'I hope you rot in prison.'
Willy is out on a $40,000 unsecured bond, and her sentencing is scheduled for September 28.
She faces up to 20 years in prison for each wire fraud charge, as well as 10 years for engaging in monetary transactions involving assets derived from illegal activities and a minimum of two years for aggravated identity theft.
Allen and Cox have pleaded not guilty and are scheduled to go to trial on August 10. They have until July 31 to submit a plea deal.
The Daily Mail contacted Willy's lawyer for comment.
