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 were found guilty on four counts, including conspiracy to commit wire fraud and securities fraud. The scheme, which also involved their co-defendant Brooklynn Chandler Willy, led to millions of dollars in losses for victims, as funds were 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.
AI summary · Source: Texas Border Business →
