LUBBOCK, Texas (KCBD) – A Bexar County judge has granted a temporary injunction locking down assets and dozens of companies tied to Lubbock businessman Joshua Allen — a new legal step in an going case involving Lubbock investors who say Allen defrauded them.
The order, signed June 12, 2026, by Judge Norma Gonzales of the 131st Judicial District Court in Bexar County, blocks Allen, his company Allen Financial Agency, and Landzacha Holdings from selling, transferring, or otherwise moving any assets while the case moves toward trial.
The injunction is a response to the Court-appointed receiver’s request filed on May 29, 2026, which KCBD reported on as part of our ongoing Testing Trust investigation.
What the Court Found
The court found Allen and his associated entities are “probably insolvent” — meaning they likely cannot pay damages owed to investors without the frozen assets in place.
Court-appointed receiver John Patrick Lowe, who oversees the affairs of Ferrum Capital LLC and Ferrum IV LLC, sought the injunction to protect what remains of the receivership estate.
The court agreed, finding the receiver has a “probable right to recover relief” and that without the freeze order, the estate would likely suffer “imminent and irreparable injury.”
What’s Frozen
The injunction covers more than 35 companies and holdings tied to Allen — spanning real estate, property management, financial, and other business interests across Texas. Among the entities named:
RaiderLand Property Management LLCHub City Land LLC7 Spur Ranch LLCHub City Cantina Ltd.Monarch Executive Protection Services LLCAnd dozens more
Any real property owned or controlled by those companies is also covered under the order.
Background
The case stems from a lawsuit filed by Lubbock investors, including Judy A. Musgrove, who allege Allen misused their funds. KCBD’s Testing Trust investigation has followed the case as a court-appointed receiver has worked to track down and recover assets on behalf of the victims.
KCBD has reached out to Allen’s attorney for comment. We will let you know if he responds.
Previous Stories:
Court receiver seeks emergency freeze of Lubbock man’s assets in alleged Ponzi scheme
Testing Trust: Criminal trial delayed for Lubbock businessmen Joshua Allen and Michael Cox
Testing Trust: Joshua Allen, co-defendants ordered to pay back Walk-On’s investors
Testing Trust: Another family claims to have lost hundreds of thousands to Lubbock’s Ferrum Capital
Testing Trust: Suits accuse Lubbock financial advisors of operating Ponzi scheme
Testing Trust: Many fear everything lost in alleged Ponzi scheme
Testing Trust: KCBD obtains additional lawsuits filed against Lubbock financial advisors
Testing Trust: Lawsuit claims alleged scheme ‘identical’ to program previously run by defendant
Testing Trust: Lubbock financial advisor faces additional accusations in separate lawsuit
This is a developing story. KCBD will continue to update as new information becomes available.
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