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Bradley Morgan Holts, a 54-year-old financial advisor from Orange, Texas, has pleaded guilty to wire fraud, admitting to defrauding investors by posing as a legitimate investment firm.
Holts now faces up to 20 years in federal prison for his deceptive scheme.
The U.S. Attorney’s Office confirmed that Holts orchestrated an elaborate scam where he redirected investor funds for personal use.
He falsely represented himself as an affiliate of a reputable investment company, convincing clients to deposit money into an account under “Bradley Morgan Holts dba Invesco Investment Texas” (ITT).
Investors believed they were working with Invesco, Ltd., a globally recognized financial firm, but their money was instead funneled into Holts’ personal expenses.
Court records show that Holts had previously worked with institutions such as Capital One Bank and World Capital Brokerage.
His fraudulent actions were exposed during an investigation led by the FBI’s Beaumont Field Office.
U.S. Magistrate Judge Zack Hawthorn presided over the proceedings, during which Holts admitted to his crimes.
While the charge carries a maximum penalty of 20 years, the final sentencing will depend on statutory factors and sentencing guidelines.
The court will determine Holts’ fate after a thorough presentence investigation by the U.S. Probation Office.
Assistant U.S. Attorneys Chris Jackson and Reynaldo P. Morin are leading the prosecution.
A sentencing date has not yet been scheduled.
