FRESNO, Calif. – A shocking turn of events has unfolded in the Central Valley as former member of the U.S. House of Representatives Terrance John ‘TJ’ Cox, 61, of Fresno, has pleaded guilty to one count of wire fraud and one count of wire fraud affecting a financial institution, announced Acting U.S. Attorney Michele Beckwith.
According to court documents, Cox perpetrated fraud schemes targeting companies he was affiliated with, dating back to 2013. The former congressman created unauthorized off-the-books bank accounts and diverted client and company money into those accounts through false representations, pretenses, and promises. From 2013 to 2018, Cox illicitly obtained client payments and company loans and investments that he solicited and then stole, netting an estimated amount through the two different fraud schemes.
In addition, Cox fraudulently obtained a $1.5 million construction loan to develop the recreation area in Fresno known as Granite Park. Cox and his business partner’s nonprofit could not qualify for the construction loan without a financially viable party guaranteeing the loan. Cox falsely represented that one of his affiliated companies would guarantee the loan and submitted a fabricated board resolution that falsely stated that at a meeting on a given date, all company owners agreed to guarantee the Granite Park loan. No meeting took place, and the other owners did not agree to back the loan. The loan later went into default.
This case is the product of an investigation by the Federal Bureau of Investigation and the IRS Criminal Investigation. Assistant U.S. Attorneys Henry Z. Carbajal III and Jeffrey A. Spivak are prosecuting the case.
Cox is scheduled to be sentenced on June 2, 2025, and faces a maximum statutory penalty of 30 years in prison and a $1 million fine. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.
The revelation of Cox’s guilty plea brings an end to a long and complex investigation into the former congressman’s dealings. As the Central Valley continues to grapple with the aftermath of this shocking news, one thing is clear: justice will be served.
The case against Cox serves as a stark reminder of the importance of holding public officials accountable for their actions. As citizens, it is our duty to demand transparency and integrity from those we elect to office.
Related Federal Cases
- Nazaret Chakrian, ID Theft and Wire Fraud, California 2023 · Idaho
- McKenzie Marie Earley, $10M Wire Fraud, C.D. California, 2023 · Louisiana
- Christopher Furman, Wire Fraud and Money Laundering, Pennsylvania 2009 · California
- Amy Evangelista, Tax Fraud, California 2023 · California
- Federal Regulators, Lifel, Securities Fraud, California 2020 · Connecticut
Key Facts
- State: California
- Category: White Collar Crime|Public Corruption|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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