{"id":400738,"date":"2026-08-08T00:44:27","date_gmt":"2026-08-08T00:44:27","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/400738\/"},"modified":"2026-08-08T00:44:27","modified_gmt":"2026-08-08T00:44:27","slug":"as-allen-cox-watch-via-zoom-defense-prosecution-battle-over-motions-in-pre-trial-hearing-before-trial-begins-monday","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/400738\/","title":{"rendered":"As Allen, Cox watch via Zoom, defense, prosecution battle over motions in pre-trial hearing before trial begins Monday"},"content":{"rendered":"

Joshua Allen and Michael Cox watched on Zoom as their attorneys and federal prosecutors debated final details before the men go on trial Monday morning in San Antonio.<\/p>\n

The pair who founded Lubbock-based Ferrum Capital are charged with four counts in a federal indictment:<\/p>\n

Conspiracy to Commit Wire Fraud<\/p>\n

Conspiracy to Commit Money Laundering<\/p>\n

Conspiracy to Launder Monetary Instruments<\/p>\n

Securities Fraud<\/p>\n

In a pre-trial hearing lasting a little longer than two hours in front of U.S District Judge Fred Biery, attorneys for Allen and Cox were unsuccessful in getting the fourth count of Securities Fraud thrown out.<\/p>\n

Also discussed:<\/p>\n

Whether co-conspirators could be mentioned in front of a jury<\/p>\n

Questioning use of expert witnesses.<\/p>\n

Witness lists<\/p>\n

How Allen\u2019s attorneys can show their clients acted in \u201cgood faith\u201d when the phrase cannot be entered in court.<\/p>\n

How the indictment could be read to a jury.<\/p>\n

If prosecutors should be allowed to have more than 40 people who invested in Ferrum Capital testify.<\/p>\n

Fourth count<\/p>\n

Defense attorneys argued the indictment\u2019s Securities Fraud count should not be allowed saying the grand jury was given the wrong legal standard for the difference between promissory notes and investment contracts, saying this violated the defendants\u2019 Fifth Amendment rights.<\/p>\n

Biery asked Joseph Blackwell, assistant United States attorney, if he wanted to comment. Blackwell said he\u2019d offer a \u201crobust response,\u201d adding the defense was \u201ccompletely wrong.\u201d<\/p>\n

He brought up the Howey test \u2013 a legal standard established by the Supreme Court in 1946 to determine if a financial transaction qualified as an investment contract if it meets all four of the following \u2013 investment of money, common enterprise, expectation of profits, efforts of others.<\/p>\n

\u201cInvestment can be a note, it can be an investment contract,\u201d Blackwell said.
Greg White of Dallas Law Firm Gray Reed, representing Allen, reiterated the grand jury was told they were promissory notes and not told they were investment contracts.<\/p>\n

Biery denied the motion.<\/p>\n

\u2018Co-conspirators\u2019<\/p>\n

The defense asked to \u201cprevent any alleged co-conspirator statements,\u201d hearsay or testimonial statements.<\/p>\n

Those would include testimony from Brooklynn Chandler Willy \u2013 Ferrum\u2019s San Antonio affiliate who pleaded guilty earlier this year \u2013 and an interview Cox did with the Texas State Securities Board. Blackwell said he had a recording of Cox\u2019s interview but was not planning on using it unless Cox took the stand.<\/p>\n

Biery denied the motion but cautioned Blackwell to be careful.<\/p>\n

\ud83d\udd17\u00a0Ongoing Ferrum Capital Coverage<\/a><\/p>\n

Government\u2019s expert witness<\/p>\n

Defense objected to Greta Cantwell, an enforcement attorney with the Texas State Securities Board being used as an expert witness for the prosecution \u2013 concerned if she could be fair because she works for the government.<\/p>\n

Blackwell discussed having her testify only to the facts she knows from working on the Ferrum case.<\/p>\n

Blackwell said he could then bring Cantwell back for other testimony he felt was relevant beyond facts of the case.<\/p>\n

Anthony Box of Gray Reed, also representing Allen, protested, saying having Cantwell testify twice would create confusion, but Biery denied the motion.<\/p>\n

Allen\u2019s expert witness<\/p>\n

Attorneys for Allen filed a motion Friday about having Alicia Alvarez testify during the trial about her analysis of the sources and uses of funds, investor proceeds, investor repayments, third-party investment activity, commissions and distributions and transfers involving Allen, Cox and Willy.<\/p>\n

Alvarez was a supervisory forensic accountant for the FBI.<\/p>\n

Blackwell was concerned this was being filed days before the trial, saying it was \u201cextreme late notice.\u201d<\/p>\n

The motion also said 100 percent of investor funds went to Collins Asset Group, then \u201cCAG failed to meet its financial obligations to Ferrum Capital, which resulted in Ferrum Capital being unable to repay loans to its promissory note holders.\u201d<\/p>\n

Cox witness list<\/p>\n

Two women expected to testify as character witnesses for Cox were Ferrum employees and investors. Blackwell did not object to the list but said he could ask them questions.<\/p>\n

Michael Gross, a San Antonio attorney representing Cox, said Blackwell should not ask them about allegations to make it sound like facts.<\/p>\n

Help Lubbock Lights bring you Ferrum trial coverage<\/p>\n

People in Lubbock have followed the Ferrum Capital case since it began. <\/p>\n

We were the first locally to report on the Ferrum Capital story and since have done more than 40 stories. Why? These are some of the most-read stories on our site.\u00a0So, if it\u2019s important to you then it\u2019s important to us.<\/p>\n

There\u2019s a challenge. The trial is not in Lubbock, but San Antonio and expected to last three weeks. Lubbock Lights doesn\u2019t have a travel budget because the stories we do are almost all in Lubbock.<\/p>\n

We plan to cover the Ferrum Capital trial from Friday\u2019s pre-trial hearing to a verdict with stories every day if warranted. We plan to stay at a midscale hotel close to the courthouse and expect it will cost at least $4,000 for hotels and gas. We\u2019d appreciate contributions in any amount and we are a 501(c)3.<\/p>\n

Thanks for your consideration, and even if you decide not to donate, we still invite you to help us get the word out.\u00a0<\/p>\n

Terry Greenberg
Editor<\/p>\n

Good faith<\/p>\n

Eddie Mendoza, also representing Allen through his Dallas firm Mendoza Defense, was concerned Biery\u2019s ruling Thursday on \u201cgood faith\u201d could impact his effort to represent Allen.<\/p>\n

\u201cDefendants Joshua Allen and Michael Cox are precluded from introducing evidence or argument concerning advice of legal counsel or their good faith belief without first alerting the Court so an evidentiary ruling may be held at that time,\u201d the motion said.<\/p>\n

\u201cI want to show the defendants were acting in good faith without using that term and running afoul of the court\u2019s order,\u201d Mendoza said.<\/p>\n

Blackwell then brought up the Samuel Bankman-Fried case \u2013 the American businessman who founded a cryptocurrency exchange and was convicted for his role in a multibillion-dollar fraud scheme.<\/p>\n

\u201cHe was justified \u2026 because he believed it would all work. The court said no,\u201d he said, adding maybe the defendants thought it would work out and no one would be harmed. \u201cThat\u2019s not a defense.\u201d<\/p>\n

Mendoza said, \u201cI never indicated that was our defense.\u201d<\/p>\n

The judge then said, \u201cI infer to get into all of that means Mr. Cox and Mr. Allen testifying.\u201d Defense attorneys then said no decision had been made yet about the pair taking the stand.<\/p>\n

Reading indictment to the jury<\/p>\n

Box was concerned about how the indictment would be read to the jury.
\u201cWe don\u2019t want the jury to be prejudiced by the horrible things the prosecution says about them,\u201d Box said.<\/p>\n

Part of the indictment said:<\/p>\n

\u201cAllen, Cox, Willy and other acting at their direction, lied and misled investors concerning the nature of the investments into the Ferrum Entities, lied about their high commissions, lied and misled about the collateral securing the investments and lied and misled about the security of the investments. Allen, Cox and Willy routinely told investors their money was safe, secure, and collateralized. In truth, much of the victims\u2019 money was never invested but went to the benefit of Allen, Cox and Willy, or paid to other investors. Allen even told one victim it would take \u2018Jesus coming back\u2019 for there to be a problem with his investment into Ferrum Capital.\u201d<\/p>\n

Biery pointed out the indictment is an allegation and also said, \u201cDoes Jesus get to object being in the indictment?\u201d<\/p>\n

He also said he expected Blackwell would include much of the indictment language in his opening arguments.<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"More\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tMore than a year after Joshua Allen, Mike Cox indicted by feds, Ferrum Capital trial begins Monday in San Antonio<\/a><\/p>\n

\n\t\t\t\t\t\t\tAugust 6, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Willy\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tWilly sentencing delayed \u2013 part of Ferrum Capital criminal case<\/a><\/p>\n

\n\t\t\t\t\t\t\tAugust 3, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Judge\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tJudge denies Allen\u2019s request to toss federal charges against him, claiming indictment doesn\u2019t give him chance at fair trial<\/a><\/p>\n

\n\t\t\t\t\t\t\tJuly 30, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Battle\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tBattle before the courtroom battle: Allen, Cox and federal prosecutors maneuvering on which evidence jury can weigh<\/a><\/p>\n

\n\t\t\t\t\t\t\tJuly 21, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Judge\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tJudge denies Allen\u2019s request to push back criminal trial set for August 10<\/a><\/p>\n

\n\t\t\t\t\t\t\tJuly 2, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"No\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tNo plea deal and none expected in Ferrum case as Allen seeks delay and prosecutors balk<\/a><\/p>\n

\n\t\t\t\t\t\t\tJune 19, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Judge\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tJudge approves receiver plan, ordering Joshua Allen to not use other business assets, a step toward possible restitution<\/a><\/p>\n

\n\t\t\t\t\t\t\tJune 12, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Ferrum\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tFerrum Capital investors have until September 3 to file a claim \u2014 here\u2019s how<\/a><\/p>\n

\n\t\t\t\t\t\t\tJune 4, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Receiver\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tReceiver in Ferrum Capital case asks judge to keep Josh Allen from selling assets in effort to reclaim money for victims<\/a><\/p>\n

\n\t\t\t\t\t\t\tJune 1, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Collection\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tCollection efforts against Joshua Allen in Walk-On\u2019s case successfully completed<\/a><\/p>\n

\n\t\t\t\t\t\t\tMay 15, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Key\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tKey Ferrum Capital player: \u2018You\u2019re asking me \u2013 where\u2019s the rest of the money? I really want to know that. I don\u2019t know.\u2019<\/a><\/p>\n

\n\t\t\t\t\t\t\tMay 13, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Ferrum\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tFerrum victims may have one place to file claims if judge approves at May 19 court hearing<\/a><\/p>\n

\n\t\t\t\t\t\t\tApril 28, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Ferrum\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tFerrum victims may have places to look for recovery assets, says receiver who handled Amarillo Walk-On\u2019s settlement<\/a><\/p>\n

\n\t\t\t\t\t\t\tApril 15, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Allen\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tAllen losing ownership interest in Neufeld companies to pay off Walk-On\u2019s investor lawsuit in $835,000 settlement<\/a><\/p>\n

\n\t\t\t\t\t\t\tApril 13, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"People\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tPeople who made money at start of Ferrum\u2019s \u2018Ponzi scheme\u2019 targeted to pay back half or defend themselves in court<\/a><\/p>\n

\n\t\t\t\t\t\t\tMarch 23, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Ferrum\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tFerrum affiliate Willy pleads guilty to ten federal charges in San Antonio \u2013 Joshua Allen, Michael Cox still awaiting trial<\/a><\/p>\n

\n\t\t\t\t\t\t\tMarch 19, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Feds\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tFeds update charges against Willy in Lubbock-based Ferrum Capital case, could take her assets<\/a><\/p>\n

\n\t\t\t\t\t\t\tMarch 4, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Criminal\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tCriminal trial delayed for Ferrum co-founders Joshua Allen and Michael Cox, Willy negotiating plea deal with feds<\/a><\/p>\n

\n\t\t\t\t\t\t\tFebruary 4, 2026\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Josh\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tJosh Allen may lose companies as one impact from receivers working on Walk-On\u2019s, Ferrum cases<\/a><\/p>\n

\n\t\t\t\t\t\t\tNovember 25, 2025\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"$1.2\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\t$1.2 million dollar victory for Ferrum victims \u2013 only a fraction of what they lost according to FBI statement<\/a><\/p>\n

\n\t\t\t\t\t\t\tNovember 21, 2025\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"FBI\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tFBI asks Ferrum victims to come forward, while receiver aggressively seeks immediate payments to victims<\/a><\/p>\n

\n\t\t\t\t\t\t\tNovember 7, 2025\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Where\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tWhere did money in Ferrum Capital go? Answers found in forensic accounting report obtained by Lubbock Lights.com<\/a><\/p>\n

\n\t\t\t\t\t\t\tOctober 8, 2025\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Ferrum\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tFerrum criminal trial \u2013 Allen, Cox and Willy \u2013 pushed back until next year<\/a><\/p>\n

\n\t\t\t\t\t\t\tSeptember 5, 2025\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Ferrum\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tFerrum detour to Delaware ends; what that means for victims in Lubbock, San Antonio<\/a><\/p>\n

\n\t\t\t\t\t\t\tJuly 29, 2025\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Criminal\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tCriminal trial date set for Ferrum\u2019s Allen, Cox; their San Antonio affiliate\u2019s court process pushed back<\/a><\/p>\n

\n\t\t\t\t\t\t\tJuly 24, 2025\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Battle\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tBattle to recover millions for victims in Lubbock, San Antonio is also a tug of war between Delaware, Texas<\/a><\/p>\n

\n\t\t\t\t\t\t\tJuly 16, 2025\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\u2018Finally\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\t\u2018Finally \u2026 in shackles\u2019 \u2013 Ferrum victims \u2018ecstatic\u2019 about criminal charges against Allen and Cox<\/a><\/p>\n

\n\t\t\t\t\t\t\tJuly 10, 2025\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Update:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tUpdate: Cox, Allen, co-owners of Lubbock\u2019s Ferrum Capital, charged in federal court, could face 70 years in prison<\/a><\/p>\n

\n\t\t\t\t\t\t\tJuly 9, 2025\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"New\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tNew details from Collins bankruptcy show they owed Lubbock-based Ferrum Capital \u2018undetermined\u2019 amount of money<\/a><\/p>\n

\n\t\t\t\t\t\t\tJune 19, 2025\t\t\t\t\t\t<\/p>\n

\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Attorneys\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tAttorneys trying to recover money in Ferrum cases concerned about legal processes moving to Delaware<\/a><\/p>\n

\n\t\t\t\t\t\t\tJune 13, 2025\t\t\t\t\t\t<\/p>\n

Number of government witnesses<\/p>\n

Mendoza questioned if it\u2019s fair for the government to call more than 40 witnesses saying the same thing and if it would sway the jury on pure volume.
Biery also pointed out it could backfire if the jury got tired of it.<\/p>\n

Some are married, Mendoza said, building his argument against unneeded repetition.<\/p>\n

Blackwell said he intended to cut a few.<\/p>\n

\u201cBut this is a massive fraud and touched people in different ways. There are 560 potential victims and it shows the scope is massive and through different investment structures. It limits the United States\u2019 ability to try the case,\u201d he said, adding he plans to show the \u201cfull scope of criminal conduct.\u201d<\/p>\n

Mendoza responded, \u201cThey haven\u2019t proven it and what I haven\u2019t heard is why the government needs 43 witnesses.\u201d<\/p>\n

Biery said if it becomes repetitive, he\u2019ll consider the defense concern.<\/p>\n


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