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Wife, friend ask judge for leniency ahead of Lubbock fraud sentencing - KCBD
Joshua Allen's attorneys have filed a motion asking a federal judge to release him on bond until his sentencing in the Ferrum Capital fraud case out of Lubbock. They are due back in court December 10 for sentencing, and Allen's legal team wants him out on bond until then.
Allen and Michael Cox, both Lubbock residents, were convicted last month on all four felony counts for running a fraud scheme through their investment company, Ferrum Capital. A federal jury found the two men solicited hundreds of investors, promising safe and secure returns, then used much of that money to pay off earlier investors and themselves.
U.S. District Judge Fred Biery ordered both men taken into custody right after the verdict came down. They are due back in court December 10 for sentencing, and Allen's legal team wants him out on bond until then.
For the hundreds of investors who put money into Ferrum Capital, this case has already delivered the answer they were waiting on, a unanimous guilty verdict on every count. What happens next matters just as much. Whether Allen walks free before sentencing could shape how much time he actually serves once Judge Biery hands down a final decision, and it puts a spotlight on how federal courts handle high dollar fraud convictions in West Texas.
Common questions
When is Joshua Allen's sentencing in the Ferrum Capital case?
- Allen and co-defendant Michael Cox are due back in federal court on December 10 for sentencing. Allen's attorneys have filed a motion asking the judge to release him on bond until that date, though it's unclear if the request has been granted.
What was Joshua Allen convicted of?
- A federal jury convicted Allen and Michael Cox on all four felony counts for running a fraud scheme through their Lubbock investment company, Ferrum Capital. They solicited hundreds of investors with promises of safe, secure returns, then used much of the money to pay earlier investors and themselves.
Is Joshua Allen currently in jail?
- Yes, he's in federal custody. U.S. District Judge Fred Biery ordered both Allen and Cox taken into custody immediately after the guilty verdict last month, and Allen's legal team is now asking for his release on bond until his December 10 sentencing.
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