Sherman, Texas — An Irving couple has been convicted in connection with a multi-million-dollar investment fraud scheme that prosecutors said targeted more than 700 investors, including Hispanic victims, and resulted in approximately $9.5 million being stolen.
A federal jury found 70-year-old Marina Brooks and 74-year-old Charles Brooks guilty of conspiracy to commit wire fraud Monday morning following a trial in the Eastern District of Texas.
According to federal prosecutors, the couple operated a multi-year scheme in which they allegedly persuaded American citizens and immigrants to invest money in various ventures, including cryptocurrency and entertainment-related businesses.
Couple Accused of Targeting Investors With False Promises
Federal prosecutors said the Brookses used fraudulent representations to convince victims to put money into investments that were presented as profitable opportunities.
Evidence presented during the trial showed that some of the couple’s alleged claims involved private company shares that they said would increase in value and never decline.
They also allegedly told investors that the cryptocurrency they were selling carried no risk, according to officials.
The Brookses were initially indicted in December 2023, along with 35-year-old Crystal Brooks. The indictment accused the defendants of taking approximately $9.5 million from more than 700 investors.
The case involved victims in the Dallas-Fort Worth area and elsewhere, according to federal authorities.
Prosecutors Say Victims Lost Life Savings
The U.S. Attorney’s Office for the Eastern District of Texas said the scheme caused significant financial harm to people who had entrusted the defendants with their money.
“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 in a statement.
“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.”
Officials said the defendants’ alleged activities continued for years before the federal investigation ultimately resulted in criminal charges.
FBI Says Guilty Verdict Brings Justice to Victims
The FBI said the verdict represents accountability for investors who were financially affected by the scheme.
“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 investigation involved both the FBI and IRS Criminal Investigation, which worked together to examine the financial allegations and gather evidence.
Couple Could Face Up to 20 Years in Prison
Marina and Charles Brooks have not yet been sentenced.
Each could face up to 20 years in federal prison, along with possible fines and restitution. The eventual sentences will be determined at a later date.
IRS Criminal Investigation officials said the case demonstrated the importance of victims coming forward when they believe they have been targeted by an investment scheme.
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“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,” Special Agent in Charge Christopher J. Altemus Jr. of IRS Criminal Investigation’s Texas Field Office said in a statement.
“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.”
Altemus also warned investors to be cautious about opportunities involving unusually attractive promises.
“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.”
Federal Investigation Remains Focused on Fraud
The case was investigated by the FBI and Internal Revenue Service Criminal Investigation. Assistant U.S. Attorneys Ashlyn Scott and Peter T. Thomas prosecuted the case for the government.
The convictions now move the case into the sentencing phase, where the court will determine the penalties for Marina and Charles Brooks.
For investors, the case also highlights the financial risks associated with unverified investment opportunities, particularly when promoters make absolute promises about profits or claim that an investment carries no risk.
What do you think about this case? Have you or someone you know ever encountered an investment opportunity that seemed too good to be true? Share your thoughts in the comments.
