Local
Ferrum Capital victims say justice was served
Summary by The Lubbock Editorial Desk · Based on reporting by Shaley Kidwell , KCBD News
· August 20, 2026
· 4 min read
LUBBOCK, Texas (KCBD) - A San Antonio jury found former Lubbock financial advisors Josh Allen and Michael Cox guilty in the Ferrum Capital fraud case, which targeted roughly 500 victims. Investigators say Ferrum Capital raised $80 million from investors. Conservative estimates show at least $50 m...
Key takeaway Investigators say Ferrum Capital raised $80 million from investors.
Why this matters in The Lubbock
The Ferrum Capital fraud case has left a significant mark on the Lubbock community, with roughly 500 victims affected and at least $50 million lost. For many, like Holly and Butch Boyd, the loss is not just financial, but also a betrayal of trust. The fact that the defendants used their shared religious beliefs and personal connections to exploit their victims makes the crime even more egregious. The Boyds' story is a stark reminder that even in a close-knit community like Lubbock, financial scams can have devastating consequences. As the city's residents look to rebuild and recover, it's crucial to recognize the importance of vigilance and scrutiny when investing, especially when dealing with advisors who use personal relationships to gain trust. The Lubbock Independent School District and local government may also need to consider providing resources and support to help victims recover from this massive financial loss.
About this story
Original reporting by KCBD News . The Lubbock selects stories from publishers’ feeds, summarises them, and links back to the publisher that reported them. We add no reporting of our own. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KCBD News . Have a tip or correction? Contact the editor .
Category: Local ·
Published: August 20, 2026 ·
Source: KCBD News ·
Reading time: 4 min
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Frequently asked about this story
What is this story about? LUBBOCK, Texas (KCBD) - A San Antonio jury found former Lubbock financial advisors Josh Allen and Michael Cox guilty in the Ferrum Capital fraud case, which targeted roughly 500 victims. Investigators say Ferrum Capital raised $80 million from investors. Conservative estimates show at least $50 m...
When was this published? This article was first published on August 20, 2026 by KCBD News and curated for The Lubbock readers.
Who reported this story? This story was reported by Shaley Kidwell at KCBD News. To learn more about how The Lubbock selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more Local coverage from The Lubbock, or browse our daily briefing and topic hubs .
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