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    PoliticsFormer California Representative in Congress TJ Cox Faces 28 Indictments for Alleged...

    Former California Representative in Congress TJ Cox Faces 28 Indictments for Alleged Fraud Schemes

    Former California Representative in Congress TJ Cox Faces 28 Indictments for Alleged Fraud Schemes

    The former representative T. J. CoxDemocrat from California who represented the 21st Congressional District in the Congress, faces multiple felony charges stemming from what federal prosecutors said were multiple schemes financial fraud including but not limited to campaign contribution fraud, the Justice Department said in a statement Tuesday.

    A 28-count indictment against Cox, who served a term in Congress, was unsealed in California federal district court charging him with 15 counts of wire fraud, 11 counts of money laundering, one count of financial institution fraud and one count of campaign contribution fraud. according to the Department of Justice.

    Cox was elected to represent California’s 21st Congressional District, which encompasses areas of the San Joaquin Valley, in 2018 but lost the seat to Republican David Valadao in 2020. TJ Cox was arrested Tuesday, court records show.

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    The frauds with which Cox was accused are linked to companies with which he was affiliated and their customers and suppliers. He is accused of creating unauthorized off-the-record bank accounts and diverting money into them through “false representations, pretenses and promises.”

    The Justice Department said that Cox obtained more than $1.7 million dollars through two different fraud schemes perpetrated between 2013 and 2018, siphoning off client payments, as well as loans and investments from companies that he himself procured and later stole.

    Cox also allegedly submitted multiple false statements to a lender in order to receive mortgage loan funds to purchase a property, which he said would be his primary residence, according to federal prosecutors. Nevertheless, the newly unsealed indictment claimed that Cox bought the property to rent it out.

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    The indictment also alleged that Cox fraudulently received a $1.5 million construction loan to develop Granite Park, a recreational area in Fresno, California. But Cox and a business partner’s nonprofit organization couldn’t qualify for the loan without a “financially viable party” to secure the loan, so Cox falsely said that a company affiliated with him would, according to the Department of Justice.

    While running for Congress in 2018, Cox also allegedly executed a scheme to direct more than $25,000 in illegal donations. to relatives and associates of his electoral campaign, according to the Department of Justice.

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    If convicted, Cox faces up to 20 years in prison and a $250,000 fine for wire fraud and money laundering, a maximum of 30 years in prison and a $1 million fine for wire fraud involving a financial institution and financial institution fraud, and up to five years in prison and $250,000 for campaign contribution fraud.

    It may interest you:

    – Orange County man pleaded guilty to defrauding $5 million in COVID relief loans
    – Lawyer who defended Stormy Daniels against Trump pleads guilty to fraud in California
    – Six Hispanics were arrested for alleged $10 million fraud to the California recycling program

    Source: La Opinion

    Awutar
    Awutar
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