Two Advisors Guilty in $80M Fraud | Lubbock News

Two former Lubbock financial advisors, Josh Allen and Michael Cox, were found guilty in San Antonio of orchestrating a $80 million fraud that left 500 victims—including retirees like Holly and Butch Boyd—financially ruined. They used deep personal trust, religious ties, and decades-long relationships to lure investors, with nearly $50 million vanished and $9.2 million pocketed by the duo. Convicted on all counts—including wire fraud, money laundering, and securities fraud—the pair now face up to 70 years in prison, with sentencing set for December. Federal authorities vow to recover stolen assets while victims finally get justice after years of betrayal. 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/c8611895cad8b2ac