SAN ANTONIO, Texas, Aug. 26 -- The U.S. Department of Justice's Federal Bureau of Investigation San Antonio Field Office issued the following press release:
SAN ANTONIO - A federal jury convicted two Lubbock men in San Antonio Tuesday afternoon for their roles in a massive Ponzi fraud scheme with their already convicted co-defendant Brooklynn Chandler Willy of San Antonio, announced U.S. Attorney Justin R. Simmons for the Western District of Texas.
According to court documents and evidence presented at trial, Joshua Allen and Michael Cox jointly owned and controlled four investment companies: Ferrum Capital LLC, Ferrum II LLC, Ferrum III LLC, and Ferrum IV LLC. Allen, Cox, Willy and others acting at their direction, solicited victims to i...