Ferrum Capital Convictions and Legal Battle | Lubbock News

Two co-founders of Ferrum Capital, Joshua Allen and Michael Cox, face up to 70 years in prison after being convicted of securities fraud — a scheme that stole millions from hundreds of investors, many from Lubbock. Allen’s defense is now arguing a critical jury instruction error undermines the entire case, demanding a new trial. The judge has already ordered asset freezes to prevent them from hiding money ahead of sentencing, following prior liens on their home and business interests. Prosecutors are pushing for full restitution as victims — estimated at around 500 people who lost roughly $50 million — await answers. Meanwhile, Brooklynn Willy, an affiliate tied to the scheme, has pleaded guilty and will be sentenced in December. The legal fight rages on, with the judge’s decision looming over Allen’s fate — while victims wait for justice and recovery. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/972869eb5b66a1d1