The grand jury charged Cox with 15 counts of wire fraud, 11 counts of money laundering, one count of financial institution fraud on a mortgage, and one count of making illegal conduit contributions to his congressional campaign in 2017.
The grand jury found evidence he defrauded investors in an almond processing company and a tax credit investment company, and he lied to get loans for Granite Park and for a home mortgage.
From 2013 to 2018, federal prosecutors say Cox used two different fraud schemes and "illicitly obtained over $1.7 million in diverted client payments and company loans and investments he solicited and then stole." In the five felony counts involving Granite Park, the grand jury charged Cox with using his tax credit company to guarantee the loan. But prosecutors say he did that without consent from his co-owners. The lender wired more than $1.28 million to Cox's sports non-profit, but that loan is now in default and the city of Fresno could be asked to pay it off.
Cox is also accused of funneling money to business associates and family members for them to then donate to his congressional campaign in 2017. The Democrat served in Congress from 2019-2021, representing parts of Fresno, Kern and Tulare counties.This is a developing story. Stay tuned to ABC30 for updates.
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