{"id":1611153,"date":"2022-08-17T16:19:00","date_gmt":"2022-08-17T20:19:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1611153"},"modified":"2022-08-17T16:19:02","modified_gmt":"2022-08-17T20:19:02","slug":"former-democratic-congressman-indicted-for-money-laundering-fraud","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/former-democratic-congressman-indicted-for-money-laundering-fraud\/","title":{"rendered":"Former Democratic Congressman Indicted for Money Laundering, Fraud"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fformer-democratic-congressman-indicted-for-money-laundering-fraud%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1611153&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>A former U.S. congressman from California has been charged with more than two dozen federal counts that include money laundering, wire fraud, and campaign fraud, the Justice Department (DOJ) said in\u00a0<a href=\"https:\/\/www.justice.gov\/opa\/pr\/former-member-congress-charged-multiple-fraud-schemes\">an Aug. 16 statement<\/a>.<\/p>\n<p>The charges against\u00a0Terrance John \u201cT.J.\u201d Cox include\u00a015 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 DOJ.<\/p>\n<p>Cox, 59, a Democrat from Fresno, represented California\u2019s 21st Congressional District in the U.S. House of Representatives from 2019 to 2021.<\/p>\n<p>He allegedly \u201cperpetrated multiple fraud schemes targeting companies he was affiliated with and their clients and vendors,\u201d the DOJ said in the statement.<\/p>\n<p>Specifically, Cox created unauthorized, unrecorded bank accounts and used a series of \u201cfalse representations, pretenses, and promises\u201d to divert clients\u2019 money into those accounts, prosecutors said. In the five-year period between 2013 and 2018, he allegedly used that method to obtain more than $1.7 million in client money and company loans and investment.<\/p>\n<p>Further, Cox allegedly \u201creceived mortgage loan funds from a lender for a property purchase by submitting multiple false representations to the lender, including fabricated bank statements and false statements that Cox intended to live in the property as his primary residence,\u201d the DOJ\u00a0said.<\/p>\n<p>However, this was a misrepresentation by Cox, who intended, in fact, to rent out the purchased home, prosecutors wrote.<\/p>\n<p>Other charges involve a scheme by which Cox fraudulently obtained a $1.5 million construction loan to develop Granite Park in Fresno, California. The loan was diverted to a nonprofit run by Cox and a business partner, although the organization on its own couldn\u2019t qualify without a financially viable guarantor.<\/p>\n<p>To get around that, Cox allegedly promised that one of his affiliated companies would guarantee the loan, the DOJ said. To make the transaction look legitimate,<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A former U.S. congressman from California has been charged with more than two dozen federal counts that include money laundering, wire fraud, and campaign fraud, the Justice Department (DOJ) said in\u00a0an Aug. 16 statement. The charges against\u00a0Terrance John \u201cT.J.\u201d Cox include\u00a015 counts of wire fraud, 11 counts of money laundering, one count of financial institution [\u2026]<\/p>\n","protected":false},"author":57,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1611153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1611153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1611153"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1611153\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1611153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1611153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1611153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}