San Antonio financial advisor Brooklynn Chandler Willy operates the business Texas Financial Advisory and also provides financial advice on radio stations WOAI-AM, KTSA-AM and KTSA-FM. Credit: Courtesy Photo / Brooklynn Chandler Willy

San Antonio investment advisor and radio host Brooklynn Chandler Willy was arrested Tuesday on federal charges that she obstructed a grand jury proceeding, lied to authorities and falsified documents.

The arrest is just the latest trouble for Willy, who also faces at least three civil lawsuits from former clients who accuse her of defrauding them and playing fast and loose with securities laws.

Willy owns Queen B Advisors LLC, which does business as Texas Financial Advisory. Additionally, she provides financial advice on programs broadcast on San Antonio talk-radio stations WOAI-AM, KTSA-AM and KTSA-FM.

Mark A. Barrera, Willy’s attorney, was unavailable for comment Wednesday, and an employee at Texas Financial Advisory’s Stone Oak headquarters declined comment.

IRS agents arrested Willy on Tuesday at the Stone Oak office, according to an Express-News report. She made an initial court appearance that same afternoon and will appear again in court Friday to determine whether she can be released on bond.

During Tuesday’s court date, U.S. Magistrate Judge Elizabeth “Betsy” Chestney said prosecutors asked that she keep Willy in custody, arguing that she poses a “substantial risk for obstructing justice,” according to the daily.

WIlly operates Texas Financial Advisory in Stone Oak, according to the U.S. Attorney’s Office for the Western District of Texas. Credit: Sanford Nowlin

The federal charges against Willy stem from an FBI and IRS criminal investigation launched in late 2023 looking into a purported investor fraud scheme, Willy’s indictment record shows.

During the probe, federal agents interviewed a married couple who claimed to have invested $500,000 in a Lubbock-based company on Willy’s advice, according to the document.

The couple told the feds the money was never invested as promised, the indictment states. The document further alleges Willy used their cash to make payments to a credit card, write checks to herself, pay other investors and pay another business she owns.

During the investigation, Willy falsely told federal agents that the couple had signed a $500,000 revolving line of credit to her, according to the indictment. She’s alleged to have forged their signatures to such an agreement, which the pair never agreed to, the charging documents also state.
The federal charges faced by Willy have penalties that can include years of prison time.

This isn’t the first time Willy’s investment advice has drawn the attention of authorities.

In 2020, she agreed to a one-year suspension of her state license as a securities dealer for selling alternative investments without being registered to do so, according to the Texas State Securities Board. As part of that agreement, she was required to pay back some $2.8 million in commissions.

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This article appears in Dec 11-17, 2024.

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