javascript hit counter
Business, Financial News, U.S and International Breaking News

Former Democratic California congressman TJ Cox indicted for cash laundering and fraud

NEWNow you can hearken to Fox Information articles!

Terrance John “TJ” Cox, who represented California’s 21st congressional district as a Democrat from 2019 to 2021, was indicted on 28 counts of cash laundering, wire fraud, marketing campaign fraud, and different prices on Tuesday. 

Cox, 59, was arrested by FBI brokers round 8:30 a.m. on Tuesday morning and booked into the Fresno County Jail, based on sheriff’s data. 

Prosecutors detailed within the 25-page indictment how Cox allegedly stole $1.7 million from shoppers and corporations he was related to from 2013 to 2018. 

FILE PHOTO: TJ Cox speaks during a rally for California Democratic House candidates competing for GOP-held seats at the Titan Student Union on the campus of California State University, Fullerton in Fullerton on Thursday, October 4, 2018.

FILE PHOTO: TJ Cox speaks throughout a rally for California Democratic Home candidates competing for GOP-held seats on the Titan Scholar Union on the campus of California State College, Fullerton in Fullerton on Thursday, October 4, 2018. (Leonard Ortiz/Digital First Media/Orange County Register by way of Getty Pictures)

In a single occasion, Cox allegedly solicited a $100,000 mortgage for considered one of his firms in April 2017, however did not pay the principal again to the 2 buyers. 

“Greater than $40,000 of [the loan] was used for Cox’s private bills, together with non-public college tuition, bank card funds, mortgage funds and a $7,000 cost to Cox’s non-public political marketing consultant,” prosecutors wrote. 

DISGRACED FORMER REP. ANTHONY WEINER LAUNCHES NEW PODCAST, CLAIMS NO INTENTION TO RUN FOR MAYOR AGAIN 

When Cox was a candidate for US Congress within the 2018 election, he allegedly organized for greater than $25,000 in unlawful straw donations by funding or reimbursing members of the family and associates after they gave cash to his marketing campaign. 

FILE PHOTO: Rep. TJ Cox, D-Calif., appears during a U.S. House Natural Resources Committee hearing on Capitol Hill in Washington, U.S., July 28, 2020. 

FILE PHOTO: Rep. TJ Cox, D-Calif., seems throughout a U.S. Home Pure Assets Committee listening to on Capitol Hill in Washington, U.S., July 28, 2020.  (Invoice Clark/Pool by way of REUTERS)

Cox can be accused of offering fabricated financial institution statements on a mortgage utility and fraudulently acquiring a $1.5 million development mortgage to construct a recreation space in Fresno. That mortgage went into default, leading to a lack of greater than $1.2 million, based on prosecutors. 

CLICK HERE TO GET THE FOX NEWS APP

Cox couldn’t instantly be reached for touch upon Tuesday. 

The 59-year-old flipped California’s 21st congressional district in 2018, however misplaced to Republican Rep. David Valadao by 862 votes in 2020. 

This text was initially printed by foxnews.com. Learn the authentic article right here.

Comments are closed.