According to federal court documents, Joseph Nantomah has reached a plea deal with prosecutors after being indicted on nine felony counts, including wire fraud and money laundering.Plea AgreementIn the plea agreement, Nantomah, known online as The Black Mentor confessed to soliciting funds from investors by promising lucrative returns from fix-and-flip real estate deals, money he instead used for personal expenses and to pay off earlier investors in what prosecutors have described as a Ponzi scheme.He is pleading guilty to Count Three (Wire Fraud) and Count Seven (Unlawful Monetary Transactions). For these charges, the maximum sentence is 20 years for wire fraud and 10 years for monetary transaction, plus large fines and 3 years of supervised release. The government indicates it will recommend a sentence no higher than 48 months (4 years) in prison, but the judge will make the final decision.As part of the plea deal, Nantomah agreed to pay more than $2.4 million in restitution to victims and to forfeit income and assets tied to the fraudulent activity. He gives up most rights to appeal, and the government will drop other charges if he fulfills this deal.Still in Custody Until SentencingFederal filings show Nantomah will remain in custody while he awaits a sentencing date. A judge determined there was a significant risk he might flee, citing the scope of the fraud, lack of strong community ties, and pending immigration issues.Whats NextNantomah faces a likely multi-year prison sentence when he returns to court for sentencing, currently set for September 18, 2026. The exact length will be determined by a federal judge, with input from prosecutors, the defense, and victims.Fraud estimates Earlier federal filings, including the original criminal complaint and indictment, alleged that Joseph Nantomah defrauded investors of at least $1.9 million between 2020 and 2024. However, later court documents reveal the scale of the alleged fraud was even larger.In his June 2026 plea agreement, Nantomah admitted to obtaining at least $2,931,569 from at least 32 investors as part of his scheme. That number reflects updated findings from the FBIs ongoing financial investigation, as well as additional victim reports and financial evidence gathered after the initial charges. The plea agreement also notes the net loss to victims, after subtracting partial Ponzi-style payments, was at least $2,480,348.Investors reported devastating losses, including retirement and education savings. Previously, more than 20 civil lawsuits were filed by Milwaukee law firm AxePoint Law on behalf of victims.The SECs Parallel CaseIn addition to criminal charges, the U.S. Securities and Exchange Commission has a pending civil case against Nantomah, alleging he targeted members of the Nigerian-American community and misappropriated investor funds. That case may resume once the criminal matter concludes.Stay with TMJ4 for updates on Nantomahs sentencing and any further legal developments.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.Its about time to watch on your time. Stream local news and weather 24/7 by searching for TMJ4 on your device.Available for download on Roku, Apple TV, Amazon Fire TV, and more.Report a typo or error ...read more read less