business
Two Lubbock businessmen convicted in San Antonio Ferrum Capital fraud case
Summary by The Lubbock Editorial Desk · Based on reporting by Urijah Jaushlin , EverythingLubbock (KAMC+KLBK)
· August 18, 2026
· 1 min read
Lubbock businessmen Joshua L. Allen and Mike L. Cox were found guilty of federal money laundering and securities fraud charges in a San Antonio court related to an investment fraud scheme.
Key takeaway Cox were found guilty of federal money laundering and securities fraud charges in a San Antonio court related to an investment fraud scheme.
Why this matters in The Lubbock
The convictions of Joshua L. Allen and Mike L. Cox have significant implications for the Lubbock business community, where the two men were known to operate. As the city's reputation for integrity and trustworthiness is closely tied to the actions of its business leaders, these guilty verdicts may raise concerns among investors and partners who have worked with the two men or their associates. The fact that the scheme was prosecuted in San Antonio, rather than locally, may also prompt questions about the resources and expertise available to investigate and prevent white-collar crime in Lubbock. The Lubbock Independent School District, which serves the city, may also face questions about whether it has provided adequate education and training to students about investment risks and financial literacy, in light of the high-profile fraud case involving local businessmen.
About this story
Original reporting by EverythingLubbock (KAMC+KLBK) . 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 EverythingLubbock (KAMC+KLBK) . Have a tip or correction? Contact the editor .
Category: business ·
Published: August 18, 2026 ·
Source: EverythingLubbock (KAMC+KLBK) ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? Lubbock businessmen Joshua L. Allen and Mike L. Cox were found guilty of federal money laundering and securities fraud charges in a San Antonio court related to an investment fraud scheme.
When was this published? This article was first published on August 18, 2026 by EverythingLubbock (KAMC+KLBK) and curated for The Lubbock readers.
Who reported this story? This story was reported by Urijah Jaushlin at EverythingLubbock (KAMC+KLBK). To learn more about how The Lubbock selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The Lubbock, or browse our daily briefing and topic hubs .
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