LUBBOCK, Texas (KCBD) – We have an update in our ongoing KCBD Investigates series Testing Trust.
Two Lubbock financial advisers, Joshua Allen and Michael Cox, are accused of running a multi-million-dollar Ponzi scheme. And now their business affiliate has been ordered to forfeit more than $5 million to the federal government.
A federal judge in San Antonio ordered Brooklynn Chandler Willy to forfeit more than $4 million to the United States government on Thursday, according to court records. Earlier this year Brooklyn Chandler Willy pleaded guilty to six counts of wire fraud, along with charges of aggravated identity theft and conspiracy.
Willy admitted to working on a suspected Ponzi scheme involving Allen and Cox of Ferrum Capital. Both Allen and Cox have pleaded not guilty.
U.S. District Judge Fred Biery signed an Order of Money Judgment, requiring her to pay $4,111,000 — an amount the court said represents proceeds obtained directly or indirectly through violations of federal wire fraud, money laundering, and conspiracy statutes.
Forfeiture tied to plea agreement
The court found, by a preponderance of the evidence, the money judgment reflects proceeds from violations of Title 18 U.S.C. §§ 1343, 1349, 1956(h), and 1957, based on the facts in Willy’s plea agreement. The order states Willy is solely liable for the $4,111,000 judgment.
If the court imposes probation or supervised release at sentencing, Willy will be required to pay the judgment on a schedule set by the U.S. Probation Office, after all other criminal debt has been satisfied. Payments are to be made by money order or certified check payable to the U.S. Marshals Service and sent to the U.S. Attorney’s Office, Western District of Texas, Asset Forfeiture Section in San Antonio.
Willy’s sentencing is now scheduled for Dec. 14, 2026, at 9 a.m.
Boerne property proceeds also forfeited
In a separate order filed the same day, Judge Biery signed a Preliminary Order of Forfeiture against Willy, directing the seizure of $908,317.48 in proceeds from the sale of real property located at 84 Sendero Ridge in Boerne, Texas. The court found a nexus between the property and the same federal violations cited in the money judgment.
The FBI and U.S. Marshals Service are authorized to seize, take custody of, and control those funds. The government is required to publish notice of the forfeiture for at least 30 consecutive days on the federal website forfeiture.gov . Third parties who believe they have an interest in the property may file a petition contesting the forfeiture.
New attorney enters case for co-defendant
Also on Thursday, attorney S. Greg White of Gray Reed in Waco filed an appearance of counsel on behalf of co-defendant Allen in the same case. White’s office is located in Waco.
The jury trial for Allen and Cox is scheduled to begin Monday, August 10 at 8:30 a.m. in the U.S. District Court for the Western District of Texas, San Antonio Division.
Find previous stories from our Testing Trust series here.
Copyright 2026 KCBD. All rights reserved.