Nathaniel Anthony Brooks Jr. , who pleaded guilty to a fraudulent commodity trading scheme, was sentenced to one year and one day in federal prison in U.S. District Court in Austin on Dec. 20. Brooks pleaded guilty in October to a charge of monetary transaction in criminally derived property.
Brooks was also ordered to pay restitution of $457,889.
According to the Oct. 2, 2018 indictment, Brooks obtained approximately $1.3 million from investors that he said he would use to trade commodities and securities, but the trades as a whole were unprofitable. Brooks falsely represented that the investing scheme was profitable and lied about the returns he was purportedly earning.