Lubbock Pair Faces Up to 70 Years in Prison Following Federal Ponzi Conviction
· Texas Border Business
Two men from Lubbock, Joshua Allen and Michael Cox, were convicted by a federal jury in San Antonio for their involvement in a Ponzi scheme that defrauded numerous victims. They, along with co-defendant Brooklynn Chandler Willy, misled investors about the security of their investments and concealed high commissions. The scheme resulted in hundreds of victims losing millions of dollars, with funds used to pay earlier investors and enrich the conspirators. Both Allen and Cox face up to 70 years in prison, with sentencing hearings yet to be scheduled. Willy's sentencing is set for December 14, facing up to 20 years for her charges.
AI summary · Source: Texas Border Business →
