Former San Antonio adviser Brooklynn Chandler Willy pleads guilty in federal case tied to Ferrum investments

Plea resolves part of a broader federal investigation into alleged investor deception and misuse of client funds

Former San Antonio financial adviser Brooklynn Chandler Willy has entered a guilty plea in federal court in a case tied to the Ferrum investment program, a development that narrows the issues headed toward trial in one of two criminal matters pending against her in the Western District of Texas.

Court filings show prosecutors accused Willy of participating in a scheme that induced individuals to invest in entities associated with Ferrum through misleading statements and omissions about key risks and terms. The charging documents describe representations that investments were safe, secured, or collateralized while investor money was, in part, diverted for other purposes, including payments to earlier investors—conduct consistent with a Ponzi-style structure.

The federal case involving Ferrum is separate from an earlier set of allegations that focused on an alleged attempt to obstruct a federal investigation. In that earlier matter, a superseding indictment filed in January 2025 alleged that Willy provided false documents in response to a federal grand jury subpoena and later made false statements to federal agents during an interview in November 2024. That indictment also included fraud-related counts and a forfeiture notice.

What the Ferrum-related federal case alleges

An indictment filed in July 2025 in the Ferrum case alleged that Willy and two Lubbock-area defendants used multiple Ferrum entities to solicit money from investors nationwide, while misrepresenting commissions, collateral and investment security. The allegations state that much of the money was not invested as promised and that some payments to investors were funded by later investor contributions.

• The alleged scheme period spans from late 2017 through December 2024 in the Ferrum matter.
• Prosecutors have also pursued forfeiture allegations, a mechanism used to seek property traced to criminal proceeds.

Regulatory and employment record

Public registration records show Willy previously held investment adviser representative registrations in Texas, including with Texas Financial Advisory in San Antonio, and is not currently registered. The same records list her passing the Series 65 exam in 2014.

Separate from the federal criminal cases, civil lawsuits connected to Ferrum have sought damages on behalf of investors who allege they were sold unregistered securities and that material conflicts—including compensation arrangements—were not adequately disclosed.

What comes next

Federal guilty pleas typically move the case into a presentence investigation and sentencing phase, where the court considers the advisory sentencing guidelines, restitution issues and forfeiture claims. The exact sentencing date and the specific terms of any plea agreement are reflected in court records and subsequent hearings. The remaining charges in Willy’s other pending federal case are expected to be addressed through additional court proceedings.

If you are an investor seeking to confirm whether you may be an identified victim in the Ferrum investigation, federal authorities have established a victim intake process as the case has involved hundreds of investors and alleged losses exceeding $100 million.