Texas State Securities Board

On July 2, 2025, a federal grand jury returned an indictment [ [link removed] ], recently unsealed, charging Joshua Allen of Lubbock, Texas, Michael Cox of Lubbock, Texas, and Brooklynn Chandler Willy, of San Antonio, Texas, each with one count of conspiracy to commit wire fraud, one count of conspiracy to commit money laundering, one count of conspiracy to launder monetary instruments, and one count of securities fraud for their alleged roles in a massive Ponzi scheme involving hundreds of victims and millions of dollars.

The investments were allegedly issued by investment companies based in Lubbock, Texas, commonly known as Ferrum Capital, which were owned by Allen and Cox. Both Michael Cox and Brooklynn Chandler Willy were previously registered as investment advisers in Texas.

Assistant Director Greta Cantwell assisted with the federal investigation as a detailee with the Federal Bureau of Investigation’s San Antonio Division. For more information, please refer to the press release [ [link removed] ] issued by the United States Attorney’s Office for the Western District of Texas.




Stay Connected:   Twitter [ [link removed] ]    

Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your *Subscriber Preferences Page [ [link removed] ]*. You will need to use your email address to log in. If you have questions or problems with the subscription service, please visit *Subscriber Help [ [link removed] ]*.

________________________________________________________________________

This email was sent to [email protected] using GovDelivery Communications Cloud on behalf of: Texas State Securities Board ·P.O. Box  13167 · Austin, TX 78711-3167 GovDelivery logo [ [link removed] ]