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Aiken businessman arrested on felony charge of securities fraud

Friday, July 19, 2013 7:08 PM
Last updated 10:18 PM
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An Aiken businessman was arrested Friday on a felony charge of securities fraud.

Jonathan “Jay” Warren Brooks was arrested after being accused of taking investment money for an entity called the Charles Howell Trust, according to a statement from the office of South Carolina Attorney General Alan Wilson.

The trust account was found to be fictional, and Brooks took the money, the statement said.

Brooks was assigned a surety bond of $500,000 at a hearing held at the Richland County General Sessions Court.

Mark Powell, a spokesman for the attorney general’s office, could not say whether Brooks’ arrest was connected to civil complaints filed against Compass Academy, a $9 million private school Brooks and his wife were launching in Aiken County. The attorney general’s office does not comment on criminal investigations, Powell said.

In March, a restraining order filed in the Fifth District of South Carolina Court of Common Pleas froze the accounts belonging to Brooks, J. Brooks Financial Inc., Brooks Real Estate Holdings and Compass Academy.

Brooks’ assets were placed in the control of a court-appointed receiver and his state registrations as a financial adviser and broker-agent were suspended. The complaints were under investigation as a civil matter.

Comments (5) Add comment
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Dixieman
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Dixieman 07/20/13 - 02:32 am
4
0
The other shoe drops

and the Compass Academy mess enters its next, and possibly final, chapter.

rmwhitley
5547
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rmwhitley 07/20/13 - 08:05 am
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Makes
Unpublished

ya proud, don't it?

curly123053
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curly123053 07/20/13 - 08:12 am
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Greed!

This is sad too Dixieman because I know of several families who were looking forward to having an alternate place other than the government schools to educate their kids. If this would have been done the right way this school could have done well from what I have heard from around the community here. This is what greed can do to what could have been a positive thing.

Sweet son
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Sweet son 07/20/13 - 12:06 pm
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Riverman1
90657
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Riverman1 07/20/13 - 01:52 pm
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Troubling Aspect of Story

Something bothers me about this story. There is no comment from Charles Howell, whom we can assume is the golfer, Charles Howell 3rd. Is there a connection with Charles Howell III and this matter or not?

Riverman1
90657
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Riverman1 07/20/13 - 02:36 pm
0
0
Could we have a comment from

Could we have a comment from Charles Howell....1, 2 or 3?

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