Episode Details

Two men who built a financial empire from scratch are now facing the ultimate courtroom reckoning—accused of swindling nearly $70 million from unsuspecting investors in what prosecutors call a brazen Ponzi scheme. Joshua Allen and Michael Cox, once seen as trustworthy even by those who lost their life savings, stand trial in San Antonio after nearly nine years since launching Ferrum Capital. With charges of securities fraud and conspiracy, they could face up to 70 years behind bars if convicted. Defense lawyers are fighting hard to exclude evidence, while prosecutors lean on powerful victim testimony—including from people who trusted them with retirement funds—and a cooperating witness whose own criminal past casts doubt on her credibility. The trial looms as a high-stakes drama that could reshape how investors view “too good to be true” opportunities—and whether justice can truly restore what was stolen.

Listen in comfort:
Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn.

Advertise on DNN:
advertise@thednn.ai

This is an automated, high-level news summary based on public reporting.
Report issues to feedback@thednn.ai.

View sources & latest updates:
https://sources.thednn.ai/095a7d7486ca76c2