Ex-congressman TJ Cox of Fresno pleads guilty' to two fraud charges
Briefly

Former Congressman TJ Cox has pleaded guilty to wire fraud, facing significant penalties including up to 50 years in prison and rescinded other charges under a plea deal. The charges stem from allegations of misappropriating over $1.7 million in funds and creating fraudulent documentation to secure loans for a sports complex. His attorney noted Cox's previously good standing in the community, stating that he made poor decisions during a difficult business period. A sentencing hearing will determine his fate on June 2, including restitution obligations of $3.5 million.
Cox faces 20 years in prison and a $250,000 fine for one count and 30 years and a $1 million fine for the other.
Prosecutors said Cox stole more than $1.7 million in diverted client payments and company loans and investments.
Cox could also be given probation with no jail time, but the punishment is set to be determined by a judge in a June 2 hearing.
Under the plea deal, Cox agrees to pay $3.5 million in restitution and will be required to provide records of his financial standings.
Read at www.mercurynews.com
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