Ex-Milwaukee Businessman Faces Prison for Investor Scam

Joseph James Nantomah, formerly of Milwaukee and known online as "The Black Mentor," has pleaded guilty to federal fraud charges related to a real estate investment scheme. Nantomah admitted to defrauding at least 32 investors of over $2.9 million. After accounting for partial payments, the net victim loss stands at approximately $2.4 million.

Nantomah confessed to soliciting funds by promising substantial returns from fix-and-flip real estate projects. However, he misused investor money for personal expenses and to pay earlier investors, a conduct characterized as a Ponzi-style scheme. Funds were allegedly used for luxury purchases and even 'golden visa' programs.

As part of his plea agreement, Nantomah has agreed to pay over $2.4 million in restitution and forfeit assets tied to the fraud. He faces a maximum of 20 years for wire fraud, though prosecutors may recommend a sentence capped at 48 months. The judge will determine the final sentence at his hearing on September 18, 2026.

This criminal plea follows a separate civil action initiated by the U.S. Securities and Exchange Commission against Nantomah and his associated companies for alleged real estate offering fraud.