Two Lubbock Men Convicted in Ferrum Ponzi Fraud, Face Up to…

A federal jury convicted Ferrum Capital owners Joshua Allen and Michael Cox on all four counts on 18 August after a weeklong trial in San Antonio. The US Attorney's Office for the Western District of Texas announced the verdict on 19 August. Allen and Cox were taken into federal custody immediately, and each faces a stated statutory maximum of 70 years in prison. The DOJ release and the July 2025…