A criminal trial involving the two remaining defendants charged alongside former San Antonio financial adviser Brooklynn Chandler Willy in an alleged multimillion-dollar investment scheme is underway in federal court.
Federal prosecutors told jurors that Joshua Allen and Michael Cox took millions of dollars from investors who had been assured their money was safe and secure, using some of the money to pay themselves and earlier investors — the hallmark of a Ponzi scheme — rather than for the investments they had promised.
Cox and Allen, both of Lubbock, have pleaded not guilty to charges of conspiracy to commit wire fraud, money laundering and securities fraud. They were indicted last year along with Willy, who pleaded guilty in March to 10 federal charges stemming from her investment activities…