A San Antonio financial advisor and radio host was arrested this week and charged with identity theft and obstructing an ongoing federal fraud investigation into her alleged use of a couple’s $500,000 investment for her own purposes.
Prosecutors allege that Brooklynn Chandler Willy, 45, obstructed a probe by the Federal Bureau of Investigation and Internal Revenue Service into an investor fraud scheme in San Antonio and Lubbock by producing false documents in response to a federal grand jury subpoena.
Willy was charged Tuesday with one count of obstruction of and attempt to obstruct an official proceeding, one count of false statement, and one count of aggravated identity theft, the U.S. attorney’s office for Texas’ western district announced the next day.
She remained in custody Friday morning and had a detention hearing scheduled for the afternoon, a spokesman for the office told ThinkAdvisor.
Willy owned a San Antonio-based company called Queen B Advisors LLC, doing business as Texas Financial Advisory, and also owned Chandler Capital Holdings, prosecutors said in a statement, citing charging documents from a federal grand jury in San Antonio. TFA purported to provide asset management and financial planning services, the statement noted.
The indictment alleges that in or around May 2021, Willy recommended that a married couple invest $500,000 into a company, using Chandler Capital as the agent to execute and deliver contracts, prosecutors said.
The couple agreed and wrote a check for Chandler Capital to deposit for their agreed-upon investment, prosecutors said.
Rather than depositing the check for the intended investment, Willy used her clients' $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, the indictment alleges.
In response to a federal grand jury subpoena, Willy produced a false loan agreement that falsely purported to have been signed by the victims, the indictment alleges. Willy again produced this document to federal agents during an interview last month and made false statements about this document and other matters, prosecutors allege.
