An Orange, Texas resident, Bradley Morgan Holts, has entered a guilty plea for wire fraud in a case overseen by the Eastern District of Texas. This was confirmed by Acting U.S. Attorney Abe McGlothin, Jr. in a recent announcement from Beaumont.
Holts, aged 54, admitted guilt in front of U.S. Magistrate Judge Zack Hawthorn. Previously employed as a financial advisor and stockbroker at Capital One Bank and World Capital Brokerage, Holts opened a bank account under the name "Bradley Morgan Holts dba Invesco Investment Texas" (ITT) in 2021. He misled investors believing they were funding investments with Invesco, Ltd., a global investment firm, while in reality, he misused the funds for personal purposes.
The conviction could lead to a maximum sentence of 20 years in federal prison. This statutory maximum is determined by Congress and shared for informational context. The final sentence will be decided by the court, which will consider advisory sentencing guidelines and additional statutory aspects. Holts' sentencing will be scheduled post a presentence investigation by the U.S. Probation Office.
The FBI's Beaumont Field Office is investigating this case, and Assistant U.S. Attorneys Chris Jackson and Reynaldo P. Morin are leading the prosecution.
