‘Trust and greed’: Prosecutors, investigators detail scope of Ponzi scheme orchestrated by Allen, Cox - KCBD

Federal authorities, including the U.S. Attorney's Office, the IRS Criminal Investigation Division, and the FBI, recently outlined the staggering scope of this elaborate financial fraud. The scheme successfully raised approximately $80 million from unsuspecting participants. A devastating $50 million of that capital was lost by victims, painting a clear picture of the widespread deception.

FBI Assistant Special Agent In Charge Alex Doran described the entire case as boiling down to "trust and greed." Allen and Cox personally enriched themselves, siphoning off at least $9 million for their own luxurious use from the scheme's illicit proceeds.