San Antonio Advisor Ran $2.5M Scam

⏱ 3 min read

San Antonio financial advisor Brooklynn Chandler Willy, 46, admitted in federal court Thursday to running a classic Ponzi scheme that ripped off investors for at least $2.5 million. Willy, operating Texas Financial Advisory (TFA) and Chandler Capital Holdings, wasn’t building fortunes—she was building a house of cards with other people’s money, and using the cash for herself.

The scam began unravelling with a married couple Willy hooked in 2018, directing them to Ferrum Capital, run by alleged co-conspirators Joshua Allen and Michael Cox. In 2021, she strong-armed them into sinking another $500,000 into Ferrum, then made the money disappear – funding credit card bills, paying off earlier investors (a telltale sign of a Ponzi), and propping up another one of her businesses.

But that was just the starting gun. Willy then convinced another couple to hand over $2 million to an associate’s company, promising legitimate investments in bad debt, a promise she never intended to keep. The money flowed straight into Willy’s pocket, to her associate, and used to keep the Ponzi scheme afloat. She also squeezed another two investors for $75,000 and $600,000, using the same fraudulent tactics.

Federal investigators say Willy even tried to cover her tracks, forging victim signatures on documents and submitting them as genuine. The deception didn’t work. Willy pleaded guilty to ten fraud-related counts and now awaits sentencing, which could mean a long stretch in federal prison.