Not a good few weeks for San Antonio financial peeps who went full Puro South Texas.

Brian Alfaro of Primera Energy sentenced to 10 years and ordered to pay $10 million to investors: Prosecutors hailed the decision by U.S. District Judge in light of the millions of dollars that Alfaro took from retirees and others who dug into their savings to invest in a number of drilling prospects. They say instead of using the money to drill for oil, Alfaro instead spent it on San Antonio Spurs' season tickets, a number of luxury vehicles and other big ticket items. link

Aggie former Bank of San Antonio Exec arrested for alleged $13.2 million ponzi-scheme: Wayne Schroeder, 48, was arrested in San Antonio yesterday on a federal indictment accusing him of three counts of fraud and two counts related to money laundering. Schroeder was the president of The Bank of San Antonio subsidiary Texas Express Funding LLC, or TEF, until he was fired in May when the bank allegedly uncovered the scheme. link

Brooklynn Chandler Willy must refund $2.75 million in commissions and suspended for one year: Local radio show host and four other staff members of her practice, San Antonio-based Texas Financial Advisory, recommended that "conservative, unsophisticated investors allocate nearly half of their liquid assets in private, illiquid alternative investments," the State Securities Board said in issuing its Oct. 16 disciplinary order. Under a settlement with Commissioner Travis Iles' office, Willy must pay back $2,750,500 in commissions for the sales between 2013 and 2019. She has also agreed to a one-year suspension of her investment advisor license, an independent compliance consultant review and five-year bans on discretionary trading authority and alt recommendations. link

My buddy is having to clean up the schroeder mess

He regrets tsking the job as all credibility of Bank Of SA is shot

Is that why they moved to Texas Partners Bank?

" The indictment alleges the defendants conspired to defraud financial institutions through factoring of fraudulent invoices.

Beginning with Odessa-based SouthWest Bank, then the Bank of San Antonio and Pecos-based TransPecos Banks, Schroeder sent fraudulent invoices of companies owned or controlled by the other defendants to be factored by the financial institutions, according to the U.S. attorney's office in San Antonio.

Schroeder and other co-conspirators would then pocket the money or pay off old invoices owed to the banks much like a Ponzi scheme where money from new investors is used to pay earlier investors, the office added.

Three companies named in the indictment are: Alvy's Logistics, owned by the Alvarados; Nerd Factory LLC, which was owned by Ryan Martinez and later Phyllis Martinez; and Republic Logistics, a "fake company" Schroeder created to "steal money for himself," the U.S. attorney's office statement said.

Alvy's Logistics, which does business as Alvy's Trucking, and Nerd Factory were also sued by the Bank of San Antonio."

Details on the Schroeder case. These kinds of issues are why a lot of companies don't allow their vendors to factor.

anyone here invest with her?

Looks like Brooklyn is back in the news and not for good reasons!!!


https://www.expressnews.com/business/article/Brooklynn-Chandler-Willy-accused-fraudulent-16166554.php

Brooklynn Chandler Willy, a San Antonio financial adviser who was suspended last year by state securities regulators for steering clients into unregistered and unsuitable investments, now is accused of selling a fraudulent investment.

Yikes

Do people not use broker check ?

Dude "loaned" 100k and expected back 140k. Not real sharp.

Lol, should've bought an annuity /s

4everags84 said:

---

Looks like Brooklyn is back in the news and not for good reasons!!!


https://www.expressnews.com/business/article/Brooklynn-Chandler-Willy-accused-fraudulent-16166554.php

Brooklynn Chandler Willy, a San Antonio financial adviser who was suspended last year by state securities regulators for steering clients into unregistered and unsuitable investments, now is accused of selling a fraudulent investment.

Yikes

---

After reading this thread a few days ago, I must say I was pretty surprised when I heard an advertisement for her show on the radio at lunch today!

BCW back again. This time for obstruction of justice...

https://www.ksat.com/news/local/2024/12/11/san-antonio-financial-advisor-radio-show-host-arrested-faces-federal-obstruction-charge/

Quote:

---

In May 2021, documents state that Willy recommended to a married couple that they invest $500,000 into Chandler Capital Holdings. The couple agreed, and Willy received their money, the U.S. Attorney's Office said.

However, instead of allocating their funds toward the company for investment, Willy used it for her own purposes, paying off her credit card and distributing payments to other investors and another business owned by her, court records show.



Two years later, the FBI and the IRS got involved as they launched an investigation. The 2021 incident was one of many reported fraud schemes in which Willy was allegedly involved.

During their investigation, a federal grand jury issued subpoenas into Willy's businesses, which demanded all investor agreements, communications, and contracts related to the married couple.

In response, Willy sent over records. One of the documents stated, "Revolving Line of Credit Agreement," which appeared to be a contract and note signed by the couple saying they agreed to loan $500,000 of credit for Willy and her company.

After some review, the document would turn out to be false, as the couple said they never agreed to those terms, court documents state.


Because of the falsified agreement, Willy was arrested and charged with obstruction of justice for attempting to interfere with a federal investigation.

---