{"id":65166,"date":"2025-11-26T00:49:14","date_gmt":"2025-11-26T00:49:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/65166\/"},"modified":"2025-11-26T00:49:14","modified_gmt":"2025-11-26T00:49:14","slug":"josh-allen-may-lose-companies-as-one-impact-from-receivers-working-on-walk-ons-ferrum-cases","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/65166\/","title":{"rendered":"Josh Allen may lose companies as one impact from receivers working on Walk-On’s, Ferrum cases"},"content":{"rendered":"

In Lubbock, Max Tarbox is trying to figure out how many companies Joshua Allen owns to collect a lawsuit judgment against Allen breaching his duty to other investors in the Amarillo Walk-On\u2019s restaurant.<\/p>\n

In San Antonio, attorneys believe a $1.175 million payment is just the first to help hundreds of Ferrum Capital victims recover some of their millions in investments.<\/p>\n

Allen and his fellow Ferrum cofounder Michael Cox \u2013 both of Lubbock \u2013 are under federal indictment for securities fraud by a San Antonio grand jury. So is their affiliate Brooklyn Chandler Willy. They face an April 2026 trial date.<\/p>\n

Meanwhile, \u201creceivers\u201d \u2013 court-appointed managers \u2013 are busy.<\/p>\n

Allen stands to lose control over a series of companies he owns, partially owns or controls.<\/p>\n

\u201cI\u2019m still trying to locate and identify all of his property interests,\u201d Tarbox told LubbockLights.com Monday.<\/p>\n

Tarbox asked permission from a judge last week to take control of Allen\u2019s ownership interests in various companies.<\/p>\n

John Patrick Lowe, the San Antonio receiver, is working to get millions of dollars back for hundreds of victims in the Ferrum case, which the FBI described in October as \u201ccharacteristic of Ponzi fraud schemes.\u201d<\/p>\n

Royal Lea, an attorney working with Lowe, said, \u201cIt\u2019s not like the $1.175 million is all there\u2019s ever going to be. I expect more. But as an interim payment, the court ordered the trustee to pay the receiver the $1.175 million.\u201d<\/p>\n

That money will eventually go back to Ferrum victims \u2013 not just the ones who sued in San Antonio, Lea said.<\/p>\n

\u201cThere are about 87 plaintiffs in that one particular piece of litigation, but there are a number of other Ferrum investors who never filed a lawsuit. They\u2019re all part of the receivership,\u201d Lea said.<\/p>\n

LubbockLights.com reached out to attorneys for Allen, Cox and Willy on previous occasions. So far they have declined to comment. LubbockLights.com found a cell phone number for Allen and left a message. He did not call back.<\/p>\n

The Ferrum case<\/p>\n

LubbockLights.com reported a victory for Lowe last week in the bankruptcy of Collins Asset Group. Collins borrowed more than $47 million from Ferrum between 2017 through most of 2023.<\/p>\n

A judge ordered a bankruptcy trustee to pay the Ferrum receivership more than $1 million.<\/p>\n

Lea does not have a timetable of when victims may see money.<\/p>\n

\u201cI don\u2019t have a time estimate for you. \u2026 I think there will be additional litigation against affiliates of Collins in the bankruptcy court. And that\u2019s a potential source of recovery,\u201d Lea said.<\/p>\n

\u201cThe receiver [Lowe] has his pending litigation against Allen and Cox and Willy in the state court. We\u2019ll be proceeding with that, and that\u2019s set for trial in October next year,\u201d Lea said.<\/p>\n

Ferrum Capital, previous coverage<\/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

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

\t\t\t\t\t\tTwo companies tied to Ferrum and securities fraud FBI investigation go bankrupt<\/a><\/p>\n

\n\t\t\t\t\t\t\tJune 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\"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 people who lost money in Ferrum Capital case ask bankruptcy judge to keep Lubbock businessman Mike Cox accountable<\/a><\/p>\n

\n\t\t\t\t\t\t\tMay 20, 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\"As\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tAs Cox bankruptcy wraps up, focus shifts to use of Fifth Amendment, possibility of criminal charges in Ferrum \u2018Ponzi scheme\u2019<\/a><\/p>\n

\n\t\t\t\t\t\t\tMay 2, 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\"Cox\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tCox deal to keep his house approved but some of his bankruptcy protections lost<\/a><\/p>\n

\n\t\t\t\t\t\t\tApril 30, 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\"\u2018I\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\u2018I was shocked and ecstatic\u2026\u2019 family reacts after bankruptcy ruling preserves millions in debt related to Lubbock-based Ferrum Capital<\/a><\/p>\n

\n\t\t\t\t\t\t\tApril 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\"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 rejects Lubbock man\u2019s efforts to use bankruptcy to avoid millions of debt in Ferrum Capital case<\/a><\/p>\n

\n\t\t\t\t\t\t\tApril 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\"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 bankruptcy judge appointed in Lubbock \u2013 to oversee cases across much of West Texas<\/a><\/p>\n

\n\t\t\t\t\t\t\tApril 15, 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\"\u2018They\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\u2018They robbed people blind,\u2019 says upset Lubbock attorney representing dozens in Ferrum Capital case<\/a><\/p>\n

\n\t\t\t\t\t\t\tMarch 28, 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\"Cox\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tCox bankruptcy case in Lubbock may get new judge, as hundreds wait to see about their millions of lost savings<\/a><\/p>\n

\n\t\t\t\t\t\t\tMarch 28, 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\"Threat\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tThreat illustrates frustration of Ferrum Capital investors, who want to know where money went, if they\u2019ll recover any<\/a><\/p>\n

\n\t\t\t\t\t\t\tMarch 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\"Deal\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tDeal proposed in Lubbock $82 million Mike Cox bankruptcy case could recover small portion for Ferrum participants<\/a><\/p>\n

\n\t\t\t\t\t\t\tMarch 4, 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\"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 charges filed in San Antonio related to FBI investigation of troubled Lubbock firm; one victim speaks about losing retirement savings<\/a><\/p>\n

\n\t\t\t\t\t\t\tJanuary 27, 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\"Hundreds\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/a><\/p>\n

\t\t\t\t\t\tHundreds may have lost millions with troubled local company after criminal case extends to Lubbock from San Antonio<\/a><\/p>\n

\n\t\t\t\t\t\t\tDecember 23, 2024\t\t\t\t\t\t<\/p>\n

The Walk-On\u2019s case<\/p>\n

In March, LubbockLights.com did a paid search of official state records and found Allen owned or was an officer in 43 companies registered with the Texas Secretary of State. At that time, 33 were still in existence.<\/p>\n

Some of the more prominent ones based on court records were: Allen Financial Agency, Inc.; Ferrum Capital, LLC; Ferrum II, LLC; Ferrum III, LLC; Ferrum IV, LLC; Landzacha, LLC; QUBALL Holdings, LLC; RaiderLand Property Management; Slam-Dunk Food, LLC; WO Amarillo, LLC; and WO McKinney, LLC.<\/p>\n

Even though Tarbox is an attorney, he asked District Court Judge John Grace for permission to hire Ed Price as the receivership attorney. Price has been involved in the Ferrum case too through one of many lawsuits. On November 4, Grace granted the request.<\/p>\n

Is something like that common?<\/p>\n

\u201cIt\u2019s very common. In fact, sometimes it\u2019s hard for a receiver to hire himself as an attorney,\u201d Tarbox said.<\/p>\n

For example, Tarbox might be called as a witness in a court hearing.<\/p>\n

\u201cThe receiver can hire all sorts of professionals \u2013 such as accountants and real estate people, real estate agents, Realtors \u2013 whatever tools he needs to do his job,\u201d Tarbox said.<\/p>\n

Price, on behalf of Tarbox, filed a motion to take away Allen\u2019s companies.<\/p>\n

The motion said, \u201cPreliminary investigation reveals that Allen has placed most of his ill-gotten gains into a network of limited liability companies. \u2026 Allen is the sole or controlling member of most of these entities and uses them to conceal and control property obtained through fraudulent means.\u201d<\/p>\n

Motion to take control<\/p>\n

A portion of the November 17 request to take control of Allen\u2019s companies said:<\/p>\n

On August 7, 2025, this Court entered its Order Appointing Receiver (the \u201cReceivership Order\u201d), appointing Max Tarbox as Receiver over all non-exempt property of Joshua Allen for the purpose of locating, securing, managing, and liquidating such property for the benefit of creditors and victims of Allen\u2019s fraudulent schemes.<\/p>\n

Since his appointment, the Receiver has undertaken substantial efforts to identify Allen\u2019s property and assets. Preliminary investigation reveals that Allen has placed most of his ill-gotten gains into a network of limited liability companies formed under the laws of Texas and other jurisdictions.<\/p>\n

These LLCs appear to hold title to real estate and\/or serve as holding companies that own membership interests in other entities which, in turn, own real property or other valuable assets. Upon information and belief, Allen is the sole or controlling member of most of these entities and uses them to conceal and control property obtained through fraudulent means.<\/p>\n

\u2026 The Receiver respectfully requests that the Court enter an order:<\/p>\n

Authorizing the Receiver to take immediate possession, custody, and control of any and all membership or ownership interests in limited liability companies, corporations, partnerships, or similar entities in which Joshua Allen holds, directly or indirectly, any legal, equitable, or beneficial interest;<\/p>\n

Empowering the Receiver to exercise all management, voting, and ownership rights associated with such interests, including the authority to change registered agents, amend organizational documents, access bank and financial records, and act as managing member or officer of the entities as necessary;<\/p>\n

Authorizing the Receiver to obtain and review all records, books, ledgers, and accounts of such entities, whether held by accountants, agents, or third parties;<\/p>\n

Authorizing the Receiver to take such steps as may be necessary to preserve, manage, or liquidate the assets of those entities, subject to further Court approval prior to sale or distribution of proceeds; and<\/p>\n

Granting such other and further relief, both at law and in equity, to which the Receiver may be justly entitled.<\/p>\n

Tarbox was uncertain of the timetable on getting a ruling from Grace, but it would be \u201cat the judge\u2019s convenience.\u201d<\/p>\n

When asked how much money might be in Allen\u2019s companies, Tarbox answered, \u201cI don\u2019t know yet.\u201d<\/p>\n

\u201cI would be taking over his interest in the company, which is a different thing than the company itself,\u201d Tarbox said.<\/p>\n

There are circumstances when a receiver might end up with 100 percent of a company and need to manage the company\u2019s affairs.<\/p>\n

However, Tarbox does not think he\u2019ll be required to do any company management.<\/p>\n

Tarbox added it makes no difference if Allen is convicted and goes to prison. The receivership continues either way.<\/p>\n


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