2021 ^new^ — Ferrum Capital Lawsuit

Investors were explicitly told their money was safe, secure, and fully collateralized.

Collins now faces ongoing legal efforts from Ferrum's court-appointed receiver to recover funds.

"It's going to be nationwide," King said at the time.

In July 2025, a federal grand jury indicted the primary individuals involved on charges including , money laundering , and securities fraud . ferrum capital lawsuit 2021

Lubbock businessmen Joshua Allen and Michael Cox founded Ferrum Capital in 2017 and proceeded to build what prosecutors have characterized as a textbook Ponzi scheme. Together, they controlled four investment entities: Ferrum Capital LLC, Ferrum II LLC, Ferrum III LLC, and Ferrum IV LLC.

April 12, 2026

In January and June 2021, a Wisconsin plaintiff invested a total of $2 million while suffering from cognitive difficulties In May 2021, Brooklynn Willy allegedly advised a couple to invest Investors were explicitly told their money was safe,

While the scheme allegedly began as early as 2017, significant 2021 activities have been highlighted in legal filings:

As attorney Matthew King told KCBD, the case is "going to go a lot farther than we originally thought". With hundreds of victims, tens of thousands of pages of court documents, and a sprawling web of corporate entities, the Ferrum Capital case will likely continue to unwind for years to come.

Disclaimer: This information is compiled from publicly available court records and legal news reports as of 2021–2022. It does not constitute legal advice. Case details may be sealed or subject to change. Always consult an attorney for specific legal concerns. In July 2025, a federal grand jury indicted

: Promoters, including San Antonio radio host Brooklynn Chandler Willy, allegedly told victims their principal and profits were guaranteed with no risk of loss. The 2021 Turning Point

A joint investigation by the Federal Bureau of Investigation (FBI) and the Internal Revenue Service Criminal Investigation (IRS-CI) revealed that more than 400 victims across the United States collectively lost over through the scheme. The Genesis of Ferrum Capital and the 2021 Inflection Point