Financial Advisor Charged With Structuring Financial Transactions, Mail And Wire Fraud
COLUMBUS – A federal grand jury has charged Jason W. Cox, 39, of Dublin, with structuring cash withdrawal transactions, and with mail and wire fraud in an indictment returned in Columbus.
Carter M. Stewart, United States Attorney for the Southern District of Ohio and Kathy A. Enstrom, Special Agent in Charge, Internal Revenue Service Criminal Investigation announced the indictment returned today.
The indictment alleges that Cox structured cash withdrawals of $10,000 or under to avoid currency transaction reports between January 3, 2014 and March 30, 2014. He is charged in eight counts of aggravated structuring of $ 107,000 total.
In late 2012 through early 2013, the defendant also allegedly used his position as a financial advisor with a national financial services company to defraud an investor. Cox allegedly obtained funds for his own purposes while fraudulently representing that the funds were an investment in a business and that the investment had a guaranteed 10% rate of return. The defendant allegedly convinced the investor to give him a $10,000 check for the “off the books” investment.
Cox allegedly used the same fraudulent business scheme to obtain $10,000 via wire transfer from a second investor on or about March 15, 2013.
Structuring financial transactions is a crime punishable by up to 10 years in prison. Mail fraud and wire fraud are crimes punishable by up to 20 years imprisonment.
Cox was arrested on December 11, 2014.
U.S. Attorney Stewart commended the investigation of this case by the IRS Criminal Investigation Division, and Assistant U.S. Attorney Deborah A. Solove, who is prosecuting the case.
An indictment merely contains allegations, and the defendant is presumed innocent unless proven guilty in a court of law.