He was arrested Tuesday by federal agents on wire fraud, money laundering, and campaign contribution fraud charges stemming from “multiple fraud schemes,” federal prosecutors said.
It was not immediately known if he has an attorney who can speak on his behalf. An email message sent to Cox Tuesday was not immediately answered.
Cox, 59, was charged with 15 counts of wire fraud, 11 counts of money laundering, one count of financial institution fraud, and one count of campaign contribution fraud, U.S. Attorney Phillip Talbert said in a statement. Cox partially owned, managed and was employed by several companies and non-profit organizations, including a business that helped companies get loans and federal tax credits, an almond processing company and a non-profit that operated Granite Park, a recreation facility in Fresno, according to the complaint.
After his nonprofit could not qualify for the construction loan for the recreation facility without a party guaranteeing the loan, Cox said that one of the companies he co-owned would guarantee the loan, and submitted a fabricated board resolution that falsely stated that during a meeting all company owners had agreed to guarantee the Granite Park loan.The loan later went into default, causing a loss of more than $1.28 million, he said.
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