Federal prosecutors have now filed a nine‑count indictment against former Milwaukee businessman Joseph James Nantomah, known online as “The Black Mentor”, accusing him of running a fake fix‑and‑flip real estate scheme that defrauded dozens of investors out of more than $1.9 million.
Watch: Federal indictment expands fraud case against Milwaukee businessman
This new indictment expands on last month’s criminal complaint, which focused on a single wire fraud allegation, and outlines six counts of wire fraud and three counts of money laundering tied to specific bank transfers and financial transactions between 2023 and 2024.
If convicted, Nantomah faces up to 20 years in prison for each wire fraud count and up to 10 years for each money laundering count, plus fines and forfeiture of assets.
According to federal court documents, Nantomah was arrested in Florida in late January. He has been denied bail and was transferred to Wisconsin, where the indictment was filed in the Eastern District of Wisconsin.
The indictment alleges that Nantomah’s scheme had multiple angles:
- Luring victims through real estate investment pitches, often promoted during his business coaching classes and conferences.
- Guaranteeing returns in either fixed amounts or percentages.
- Posting videos walking through properties to make deals appear real.
- Using victim funds for personal expenses, luxury purchases, “golden visa” immigration programs, and Ponzi‑style repayments to earlier investors.
According to prosecutors, some transactions involved sending “lulling payments,” partial payouts designed to maintain victims’ trust and delay suspicion.
As TMJ4's Andrea Albers previously reported, FBI financial analysis found that at least 32 individuals and businesses invested more than $1.9 million with Nantomah between 2020 and 2024. Milwaukee law firm AxePoint Law has filed nearly two dozen civil lawsuits on behalf of those investors.
Since 2024, several investors have spoken to TMJ4 and many have taken legal action, including a couple who say they lost more than $100,000 money that was supposed to fund their retirement. After hearing of Nantomah’s arrest, the couple said they felt relieved, hoping it would protect others.
At his February 12th arraignment, Nantomah pleaded not guilty to all charges. His trial is currently scheduled to begin April 21, 2026, though that date could shift as pre‑trial motions are filed. A scheduling conference is set for February 27th.
The indictment includes a forfeiture notice, meaning that if convicted, Nantomah would lose any assets connected to the alleged crimes, from bank balances to real estate, vehicles, or other property, and prosecutors could seek substitute assets if needed.
Nantomah has previously denied wrongdoing, telling TMJ4 in a written statement: “I have never stolen any investors’ funds.”
The SEC’s parallel civil case, filed in August 2025, accuses Nantomah of similar conduct, claiming he targeted members of the Nigerian‑American community with false promises of profitable property deals. That case may be delayed as the criminal proceedings move forward.
TMJ4 will continue to follow developments in both the criminal case and SEC civil case against Nantomah.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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