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About The $80,000,000 Lie
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Joshua Allen and Michael Cox ran a string of investment funds out of Lubbock, Texas called Ferrum Capital. They promised safe returns and used their reputation in the community, their faith, their friendships, to bring in investors. Nearly 500 people gave them their money. One man handed over $500,000 while waiting on a kidney transplant, told them he needed it kept safe. The whole thing was a Ponzi scheme. Investigators say it pulled in around $80 million before it collapsed. Allen and Cox pocketed an estimated $9.2 million for themselves. In August 2026, a jury found them guilty on every count. They're facing up to 70 years in prison. This is a dramatized retelling of a real case, based on public court records and news coverage. Names and events are real. Dialogue and private moments are reconstructed for storytelling. If someone ever asks you to trust them with your savings because of who they are instead of what the numbers say, this is the story to remember. Subscribe for more true financial crime cases told the way they actually happened. 0:00 Intro 0:24 Chapter 1: Two Men in Lubbock 1:04 Chapter 2: The Pitch 1:44 Chapter 3: The Machine 2:32 Chapter 4: Cracks in the Foundation 3:15 Chapter 5: The Collapse 3:55 What's Left (Lesson) 4:51 Outro
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