The above video shows the top local headlines for the morning of September 2, 2026.
LUBBOCK, Texas — One of the Lubbock financial advisors who was previously found guilty on federal charges of Conspiracy to Commit Wire Fraud, Conspiracy to Commit Money Laundering, Securities Fraud and Conspiracy to Launder Monetary Instruments in mid-August 2026 filed a motion for a retrial in a federal court on Tuesday.
The motion states that defendant Joshua Allen filed a motion for a retrial because the jury received an erroneous legal instruction on an essential element of the securities fraud charge.
Previous Coverage:
- ‘Catastrophic’: Lubbock businessmen indicted in connection with fraud scheme
- Lubbock connection to investor fraud scheme, FBI and IRS investigating
- Two Lubbock businessmen convicted in San Antonio Ferrum Capital fraud case
EverythingLubbock.com previously reported that Allen owned Allen Financial Agency in Lubbock, where Cox served as senior vice president. Investors were misled into believing that funds were being used appropriately, while in reality, money from new investors was used to pay earlier investors; this scheme is known as a Ponzi Scheme. It was also previously reported that nearly 400 people or businesses in the Lubbock and San Antonio areas lost over $60 million…