Compass Academy founder Jonathan “Jay” Brooks reportedly violated the terms of his bond in South Carolina when, Texas authorities say, he stole more than $10,000 from an elderly man, according to Aiken County court records.
Brooks was arrested in July and charged with one count of securities fraud. His $500,000 bond was reduced to $100,000, and he was allowed to take his family to an unknown part of Texas after posting bond.
A motion for bond revocation was filed in the Aiken County Clerk of Court's office on April 18. The state alleges in the document that Brooks violated the “good behavior” provision of his bond.
“He is currently indicted on a charge of one count of forgery and three counts of securities fraud based on allegations regarding his conduct as an investment adviser to various victims,” the document stated, adding that Brooks' bond allowed him to go to Texas.
According to the motion, a warrant for Brooks' arrest was issued on March 24 in Denton County, Texas, for the crime of theft over $1,500 and under $20,000.
“The warrant alleges that as an investment adviser, Defendant promised to roll over $10,900 of the victim's money into an IRA, but Defendant instead cashed the check and converted the money to personal use,” the document stated.
Brooks has vacated the home in Texas where he was allowed to live, and law enforcement has been unable to locate him, according to the motion.
A spokesman for the state Attorney General's office said on Wednesday that Texas authorities have not located Brooks. If Brooks does not appear at the revocation, the attorney general's office will issue a bench warrant for his arrest. The document did not indicate a date for the hearing.
The motion is addressed to Brooks and his attorney, Todd Rutherford. A message left for Rutherford was not returned by press time on Wednesday.
The warrant for Brooks' arrest last year alleges that he took investment money for a fictional entity called the Charles Howell Trust and instead converted the funds for his personal use.
Rutherford said during a bond hearing last year that Brooks lived in Texas from 1998 to 2008.
“His move to Texas was not out of the blue and was not unknown to anybody,” Rutherford said during the hearing.
It was not known at press time on Wednesday if Brooks had been arrested.
Brooks, his wife and his companies have been accused by the state attorney general's office of illegally selling unregistered securities to fund the establishment of a private school, Compass Academy. They have also been accused by the securities division of the attorney general's office of using those funds to purchase groceries, their home, vacations and jewelry, rather than investing them.
Brooks also faces multiple civil suits.
Teddy Kulmala covers the crime and courts beat for the Aiken Standard and has been with the newspaper since August 2012. He is a native of Williston and majored in communication studies at Clemson University.
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