A financial scandal in Lubbock, Texas, continues to unfold as allegations mount against Joshua Allen, a local financial advisor and former franchise partner. Accused of orchestrating a multi-million-dollar Ponzi scheme, Allen is now facing lawsuits from investors who claim they were misled into investing substantial sums under false pretenses. The case involves complex financial dealings tied to the expansion of Walk On’s Bistreaux and Bar franchises, leaving many investors financially devastated and seeking justice through the courts.

In 2018, Allen reportedly approached potential investors, including Chance Britt, at a church gathering to discuss an opportunity for expanding the Walk On’s franchise to Amarillo and El Paso. Investors were presented with a one-page document forecasting promising annual sales. Britt, initially drawn by Allen's credibility within the community, invested $600,000 based on what he believed were sound financial projections. However, according to the lawsuit, no formal prospectus or required financial disclosures were provided, violating both state and federal securities laws.

The allegations further reveal that Allen, along with his business partner, established WTX WO, Limited as a Texas limited partnership to raise funds for these expansions. Quball Holdings LLC was created to act as the general partner overseeing operations. Court documents indicate that over $3 million in investor funds were escrowed by Quball LLC but never utilized as promised. Instead, investors like Britt and Tait Crow received none of the anticipated distributions despite forecasts suggesting substantial returns.

Investors recount their experiences with frustration and regret. Britt notes how the loss has severely impacted his family, forcing them into bankruptcy. Similarly, Crow expresses anguish over discovering that some of his own clients had also fallen victim to the alleged scheme, losing all their savings. Both men now place their hopes in the judicial process, represented by attorney Ed Price, who describes the scale of this case as potentially affecting hundreds of individuals and reaching up to $100 million in losses.

Allen's defense contends that unforeseen circumstances, particularly the onset of the COVID-19 pandemic, thwarted the expected financial success of the Walk On’s franchises. This argument forms part of the counterclaims filed in response to the lawsuits, denying any wrongdoing and attributing failures to broader economic challenges rather than fraudulent activities. As the trial approaches in June 2025, questions remain about the fate of numerous lives intertwined with this contentious legal battle.

While the Walk On’s corporate office remains silent due to ongoing litigation, it is evident that this saga has left deep scars within the Lubbock community. Investors hope that transparency and accountability will emerge from the courtroom, providing closure to those whose trust was betrayed amidst promises of prosperity.