Irving couple convicted of federal conspiracy charges

Sherman—An Irving couple has been convicted in federal court of charges related to a multi-million-dollar fraud conspiracy in the Eastern District of Texas, announced U.S. Attorney Jay R. Combs.

Marina and Charles Brooks were both found guilty by a jury of conspiring to commit wire fraud. The verdicts were reached on Sept. 28, following a week-long trial before U.S. District Judge Amos L. Mazzant.

According to information presented in court, the defendants engaged in a multi-year, multi-million-dollar investment fraud scheme targeting Hispanic victims, including American citizens and immigrants. The defendants fraudulently solicited investments, including investments in entertainment and cryptocurrency ventures, including through radio advertisements. Evidence at trial showed that the defendants’ lies included promises and representations that the investments they sold would earn 100%, that shares in a private company would go up and never down, and that one of the cryptocurrencies they sold carried no risk.

The defendants used much of the investor funds for their own purposes, including paying themselves and soliciting investments from additional victims. In all, the defendants fraudulently took at least $9.5 million from over 700 victim investors.

“For years, Marina and Charles Brooks repeatedly victimized hardworking members of the community in the Eastern District of Texas and elsewhere,” U.S. Attorney Jay R. Combs said. “Through their lies, the family stole life savings and retirement earnings from people who had worked for decades to realize the American dream. Working with our law enforcement partners like the FBI and IRS-Criminal Investigation, our office will continue to aggressively investigate and prosecute those who lie for money and to vigorously seek justice for their victims.”

“The evidence against Charles and Marina Brooks was overwhelming, and it begins with the bravery of their victims to come forward and help us put an end to this fraud. This conspiracy deceived the victims for years, targeting many in the Dallas-Fort Worth area and beyond. It is why IRS Criminal Investigation, the FBI and the U.S. Attorney’s Office pool our resources to stop these criminals,” said Special Agent in Charge Christopher J. Altemus Jr., of IRS Criminal Investigation’s Texas Field Office. “Investor fraud is often a story of misplaced trust and grand promises. If a deal sounds too good to be true, it probably is and you should walk away.”

“Today’s guilty verdict provides justice to the victims whose lives were financially impacted by this investment scheme. Through fraudulent representations and fake business ventures, these defendants solicited funds from vulnerable investors and diverted them for their own personal gain,” FBI Special Agent in Charge R. Joseph Rothrock said. “The FBI remains committed to working closely with our partners to ensure that individuals who engage in fraudulent conduct are held accountable.”

The maximum statutory sentence prescribed by Congress is up to 20 years in federal prison, a potential fine, and restitution at sentencing. The sentencing will be determined by the court. Sentencing hearings will be scheduled after the completion of presentence investigations by the U.S. Probation Office.

This case was investigated by IRS Criminal Investigation and the FBI and prosecuted by Assistant U.S. Attorneys Peter T. Thomas and Ashlyn Scott. 

SOURCE IRS