Ferrum Capital lured its targets—many of whom were senior citizens—using a series of highly effective, deceptive marketing tools:
In early 2021, Ferrum Capital filed its complaint. The core allegations were severe and fell into three main categories:
However, the practical result was clear: By early 2022, Versus had ceased operations, its assets were liquidated or transferred, and its founders walked away with nothing. The company that once ran major fighting game tournaments was no more. ferrum capital lawsuit 2021
in a Ferrum entity. Instead of investing the funds, she reportedly used the money for personal expenses and to pay off other investors—a classic hallmark of a Ponzi scheme. Federal Charges (2025-2026) : In July 2025, Ferrum Capital owners Joshua Allen Michael Cox were indicted alongside
Court records were formally dismissed with prejudice (meaning the case cannot be refiled) in early 2022. Ferrum Capital lured its targets—many of whom were
Furthermore, in May 2021, a San Antonio financial advisor named Brooklynn Chandler Willy—who had a business arrangement with Ferrum Capital—advised a married couple to invest $500,000 with another Ferrum entity. According to court documents, rather than investing the funds as promised, Willy used the $500,000 for her own personal benefit, including credit card payments, payments to other investors, and payments to another business she owned. This act of misappropriating funds designated for Ferrum Capital in 2021 would later be a central component of the civil and criminal cases against her.
The legal battles in 2021 marked the beginning of the end for Ferrum Capital Partners as a major player in the bridge financing space. The litigation revealed the firm's precarious financial position. in a Ferrum entity
Ferrum Capital is a [briefly describe the company, its business, and its reputation]. Founded in [year], the firm has built a reputation for its expertise in [specific area of investment or finance]. With a portfolio of high-profile clients and investments, Ferrum Capital has established itself as a major player in the financial industry.
This lawsuit was eventually settled confidentially in early 2022 (the court filed a stipulation of dismissal in March 2022). But its echoes are still relevant:
Walt Collins, the namesake of CAG, was deposed in April 2024 at the Omni Barton Creek Resort in Austin, but a full transcript only recently entered court records. During the deposition, Collins was asked repeatedly about what happened to the investors' money. "You're asking me — where's the rest of the money? I really want to know that. I don't know," Collins said when pressed.
