Brian Mitchell, a 43-year-old Ann Arbor resident pled guilty to a $2.7 million wire fraud scheme in Federal Court in Detroit on June 12. Mitchell solicited investors through two online entities — Young Pros Investment Group (YPIG) and My Nest Egg.
The State of Michigan Department of Licensing and Regulatory Affairs Corporations, Securities and Licensing Bureau issued a notice and order on March 24, 2026 to YPIG, ordering them to cease and desist “from offering and selling unregistered, non-exempt securities, and from making untrue statements of material facts in connection with the offer or sale of a security, contrary to the Securities Act.1
In the order it was noted that Mitchell and Young Pros Investment Group LLC were never registered in any capacity under the Securities Act and never registered any securities products under the Act.
Mitchell was also named in a settlement agreement with the Commodity Futures Trading Commission over federal violations he committed in 2018 and 2019. In that agreement, Mitchell was barred for three years from engaging in commodity futures trading, including soliciting, receiving, or accepting funds for such activity.2 Despite this settlement agreement Mitchell continued to conduct trades, keeping this critical information from investors.
When soliciting investors for YPIG and My Nest Egg Mitchell guaranteed that investor funds were protected against loss. He also sold these investments with the promise that set earnings would occur and that investor funds would be available to investors at certain points. There was no protection for investor funds. In fact, Mitchell suffered significant trading losses and then lied to investors about why their investment principal was no longer guaranteed.
Mitchell will be sentenced on October 7 before U.S. District Judge Laurie J. Michelson.3 He has agreed to pay $2.7 million in restitution and could face a possible sentence of up to 20 years in federal prison.
Get Help with Securities Fraud and Broker Misconduct
Investment losses caused by false promises, unauthorized securities sales, misrepresentations, or broker misconduct should not be ignored. The Law Offices of Peter C. Rageas in Royal Oak, MI represents investors in securities fraud and investment-related disputes, including cases involving unsuitable recommendations, excessive trading, unauthorized transactions, failure to disclose risks, and other forms of financial misconduct.
Contact the firm today to discuss your losses and learn what legal options may be available to help you pursue financial recovery.
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1 Notice and Order to Cease and Desist, State of Michigan, 3/24/2026
Link: https://www.michigan.gov/lara/-/media/Project/Websites/lara/cscl/NonImages_new/SecuritiesOrders/2026/Young-Pros-Investment-Group-LLC-ENF26020016-CD-Order-32426.pdf?rev=e16ace585608460da90a9627f69ebb0a
2 Ann Arbor Man Pleads Guilty to Defrauding $2.7M From Investors by Charles E. Ramirez, 6/17/2026
Link: https://www.detroitnews.com/story/news/local/michigan/2026/06/17/ann-arbor-man-brian-mitchell-pleads-guilty-defrauding-millions-from-investors/90586296007/
3 Investors Were Told Their Principal Was Guaranteed. The Trader Had Already Been Barred, DOJ Says by Mija Markovic, 6/17/2026
Link: https://finance.yahoo.com/markets/commodities/articles/investors-were-told-principal-guaranteed-000109487.html