{"id":1011879,"date":"2026-08-20T01:38:16","date_gmt":"2026-08-20T01:38:16","guid":{"rendered":"https:\/\/www.europesays.com\/us\/1011879\/"},"modified":"2026-08-20T01:38:16","modified_gmt":"2026-08-20T01:38:16","slug":"2-lubbock-men-with-connection-to-ex-san-antonio-financial-advisor-convicted-in-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/1011879\/","title":{"rendered":"2 Lubbock men with connection to ex-San Antonio financial advisor convicted in Ponzi scheme"},"content":{"rendered":"<p class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Text-nO2aZ44r__TextBase-sc-s2hv5x-0 jJNfBD fSvavs article-text\"><strong>SAN ANTONIO<\/strong> \u2013 Two Lubbock men were convicted Tuesday in a federal courtroom for their involvement in a Ponzi scheme with a now-former San Antonio financial advisor.<\/p>\n<p class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Text-nO2aZ44r__TextBase-sc-s2hv5x-0 jJNfBD fSvavs article-text\">According to a Department of Justice news release, U.S. Attorney Justin R. Simmons announced guilty verdicts for Joshua Allen and Michael Cox. Allen and Cox were convicted on the following charges:<\/p>\n<ul class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 etvbxt font_openSans articleList\">\n<li class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Stack-vJ7SwH7U__StackBase-sc-1m5bkhd-0 evEXvX dsnUCb\">\n<p>Conspiracy to commit wire fraud<\/p>\n<\/li>\n<li class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Stack-vJ7SwH7U__StackBase-sc-1m5bkhd-0 evEXvX dsnUCb\">\n<p>Conspiracy to commit money laundering<\/p>\n<\/li>\n<li class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Stack-vJ7SwH7U__StackBase-sc-1m5bkhd-0 evEXvX dsnUCb\">\n<p>Conspiracy to launder monetary instruments<\/p>\n<\/li>\n<li class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Stack-vJ7SwH7U__StackBase-sc-1m5bkhd-0 evEXvX dsnUCb\">\n<p>Securities fraud<\/p>\n<\/li>\n<\/ul>\n<p class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Text-nO2aZ44r__TextBase-sc-s2hv5x-0 jJNfBD fSvavs article-text\">\u201cIn the midst of this Ponzi scheme, Allen and Cox collected a handsome fee by telling various egregious lies, even using their self-proclaimed faith and reputation in their community to con the investors they victimized,\u201d Simmons said in the DOJ news release. \u201cThis case shows that within the Western District of Texas and across the Department of Justice, we are resolved to prosecute cases like these where individuals have preyed on the innocence and trusting nature of everyday Americans as Michael Cox and Joshua Allen did here.\u201d<\/p>\n<p class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Text-nO2aZ44r__TextBase-sc-s2hv5x-0 jJNfBD fSvavs article-text\">Allen and Cox jointly owned and operated four investment companies, evidence presented during their joint trial showed. <\/p>\n<p class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Text-nO2aZ44r__TextBase-sc-s2hv5x-0 jJNfBD fSvavs article-text\">Former San Antonio financial advisor Brooklynn Chandler Willy, who <a href=\"https:\/\/www.ksat.com\/news\/local\/2026\/03\/20\/former-san-antonio-financial-advisor-takes-guilty-plea-in-ponzi-scheme-doj-says\/\" target=\"_blank\" rel=\"nofollow noopener\">pleaded guilty on 10 charges in connection with the scheme in March<\/a>, worked with Allen and Cox \u2014 and others \u2014 to solicit victims to invest in their companies. <\/p>\n<p class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Text-nO2aZ44r__TextBase-sc-s2hv5x-0 jJNfBD fSvavs article-text\">The trio, the DOJ said, \u201cconspired to mislead the victims concerning the security of the investments and concealed their high commissions.\u201d Altogether, officials said hundreds of victims lost millions of dollars. <\/p>\n<p class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Text-nO2aZ44r__TextBase-sc-s2hv5x-0 jJNfBD fSvavs article-text\">Allen and Cox now each face up to 70 years in prison. Their sentencing hearings have yet to be scheduled. <\/p>\n<p class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Text-nO2aZ44r__TextBase-sc-s2hv5x-0 jJNfBD fSvavs article-text\">Meanwhile, Willy pleaded guilty in March on the following charges: <\/p>\n<ul class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 etvbxt font_openSans articleList\">\n<li class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Stack-vJ7SwH7U__StackBase-sc-1m5bkhd-0 evEXvX dsnUCb\">\n<p>Six counts of wire fraud<\/p>\n<\/li>\n<li class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Stack-vJ7SwH7U__StackBase-sc-1m5bkhd-0 evEXvX dsnUCb\">\n<p>One count of wire fraud conspiracy<\/p>\n<\/li>\n<li class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Stack-vJ7SwH7U__StackBase-sc-1m5bkhd-0 evEXvX dsnUCb\">\n<p>One count of money laundering conspiracy<\/p>\n<\/li>\n<li class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Stack-vJ7SwH7U__StackBase-sc-1m5bkhd-0 evEXvX dsnUCb\">\n<p>One count of engaging in monetary transactions associated with the scheme<\/p>\n<\/li>\n<li class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Stack-vJ7SwH7U__StackBase-sc-1m5bkhd-0 evEXvX dsnUCb\">\n<p>One count of aggravated identity theft<\/p>\n<\/li>\n<\/ul>\n<p>Brooklynn Willy (Copyright 2025 by KSAT &#8211; All rights reserved.)<\/p>\n<p class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Text-nO2aZ44r__TextBase-sc-s2hv5x-0 jJNfBD fSvavs article-text\">Investigators said Willy faces up to 20 years each in federal prison on the wire fraud, wire fraud conspiracy and money laundering conspiracy charges. Additionally, she could face additional time in prison for the engagement with monetary transactions (up to 10 years in prison) and aggravated identity theft (mandatory minimum of two years) charges.<\/p>\n<p class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Text-nO2aZ44r__TextBase-sc-s2hv5x-0 jJNfBD fSvavs article-text\">The aggravated identity theft charge, according to the DOJ, would run concurrently with any other punishment.<\/p>\n<p class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Text-nO2aZ44r__TextBase-sc-s2hv5x-0 jJNfBD fSvavs article-text\">Willy is set to receive her prison sentence on Dec. 14. <\/p>\n<p class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Text-nO2aZ44r__TextBase-sc-s2hv5x-0 jJNfBD fSvavs article-text\"><b>More coverage of this story on KSAT: <\/b><\/p>\n<ul class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 etvbxt font_openSans articleList\">\n<li class=\"Box-_wrDxHtU__Box-sc-10sa3ie-0 Stack-vJ7SwH7U__StackBase-sc-1m5bkhd-0 evEXvX dsnUCb\"\/><\/ul>\n<p>Copyright 2026 by KSAT &#8211; All rights reserved.<\/p>\n","protected":false},"excerpt":{"rendered":"SAN ANTONIO \u2013 Two Lubbock men were convicted Tuesday in a federal courtroom for their involvement in a&hellip;\n","protected":false},"author":3,"featured_media":1011880,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5133],"tags":[5229,356,4219,58379,147731,7202,7203,358,3187,67,586,132,5230,68,2969],"class_list":["post-1011879","post","type-post","status-publish","format-standard","has-post-thumbnail","category-san-antonio","tag-america","tag-courts","tag-crime","tag-doj","tag-lubbock","tag-san-antonio","tag-sanantonio","tag-texas","tag-tx","tag-united-states","tag-united-states-of-america","tag-unitedstates","tag-unitedstatesofamerica","tag-us","tag-usa"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1011879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=1011879"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/1011879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/1011880"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=1011879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=1011879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=1011879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}