LUBBOCK, Texas (KCBD) -Two Lubbock financial advisors are accused in civil lawsuits of talking their investors into a Ponzi scheme that cost them millions.
Our KCBD Investigates Team has obtained two class action lawsuits originally filed against Joshua Allen, Michael Cox, their company Ferrum Capital and its entities, their San Antonio affiliate Brooklynn Chandler Willy, and others. Cox has since filed for bankruptcy.
We have confirmed through an unsealed indictment that in November 2023, the Federal Bureau of Investigation and the Internal Revenue Service Criminal Division began a criminal investigation into an investor fraud scheme centered in San Antonio and Lubbock…