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Defendant Pleads Guilty in Commodities Trading Scheme
Nicholas Cox, the principal and co-owner of Integra Capital Management LLC, a North Carolina company, pleaded guilty to his role in a commodities trading investment scheme that allegedly raised more than $3.2 million. According to the indictment, Integra was established for the purpose of pooling investors’ funds in commodity pools, and investing in commodity futures and foreign currency exchange (forex) trading.
Between September 2006 and January 2009, Cox and his co-conspirator, Rodney Whitney, engaged in a scheme to defraud investors in commodity trading pools operated by Cox and Whitney through Integra. Cox, 34, a North Carolina resident, pleaded guilty before U.S. Magistrate Judge David Keesler in Charlotte, N.C., to one count of conspiracy to commit mail fraud, five counts of mail fraud and one count of conspiracy to commit money laundering.
Cox was charged in an indictment returned on May 17, 2011, by a federal grand jury in the Western District of North Carolina. Whitney pleaded guilty on March 21, 2011, before U.S. Magistrate Judge David S. Cayer to one count of conspiracy to commit mail and wire fraud and one count of conspiracy to commit money laundering.
The case is being prosecuted by Trial Attorneys Nicole H. Sprinzen and Luke B. Marsh of the Criminal Division’s Fraud Section and Benjamin Bain-Creed of the U.S. Attorney’s Office for the Western District of North Carolina. The case is being investigated by the U.S. Postal Inspection Service.
Nicholas Cox, 34, pleaded guilty to conspiracy to commit mail fraud, mail fraud, and conspiracy to commit money laundering. He is facing a sentence of his choosing, within the guidelines. Cox’s scheme raised more than $3.2 million from investors in commodity trading pools.
This prosecution is part of efforts underway by President Barack Obama’s Financial Fraud Enforcement Task Force. The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes.
For more information about the task force, visit www.stopfraud.gov. Nicholas Cox’s case is a prime example of the task force’s efforts to combat financial crimes and bring perpetrators to justice.
Key Facts
- State: North Carolina
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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