Irving Elderly Couple Convicted in $9.5 Million Investment Fraud Scheme Targeting More Than 700 Victims

SHERMAN, Texas - An Irving couple has been convicted in federal court of operating a yearslong investment fraud scheme that prosecutors said took at least $9.5 million from more than 700 investors.

70-year-old Marina Brooks and 74-year-old Charles Brooks were each found guilty of conspiracy to commit wire fraud following a weeklong jury trial before U.S. District Judge Amos L. Mazzant in Sherman. The jury returned its verdict Sept. 28, according to the U.S. Attorney's Office for the Eastern District of Texas.  Charles and Marina Brooks were arrested in Irving in 2023.

Federal prosecutors said the couple targeted Hispanic investors, including U.S. citizens and immigrants, through investment opportunities involving entertainment ventures, cryptocurrency and shares in a private company. Some investments were promoted through radio advertisements.

Evidence presented during the trial showed the Brookses made false or misleading claims about potential returns and risks, prosecutors said. Investors were told, among other things, that certain investments would earn returns of 100%, that shares in a private company would increase in value and never decline, and that one cryptocurrency investment carried no risk.

Prosecutors said the couple instead used much of the money they collected for their own purposes, including paying themselves and financing efforts to attract additional investors.

In total, the scheme took at least $9.5 million from more than 700 investors in Dallas-Fort Worth and elsewhere, according to federal prosecutors.

The Brookses each face a statutory maximum of 20 years in federal prison, along with potential fines and restitution. Their actual sentences will be determined by the court after the U.S. Probation Office completes presentence investigations.

Sentencing dates have not yet been scheduled.

The FBI and IRS Criminal Investigation investigated the case. Assistant U.S. Attorneys Peter T. Thomas and Ashlyn Scott prosecuted it.