In January of this year, we
posted a blog regarding former Edward Jones financial advisor Jason Cox who was accused
of stealing money from an elderly woman. Prosecutors accused Cox of taking
$160,000 from a client’s fund, which he initially set up for the
client’s developmentally disabled daughter. Cox’s client wanted
to set up a fund for his daughter before he died so that the woman would
be taken care of and could live comfortably. The client trusted Cox with
managing the funds; however, Cox allegedly took the money from the disabled
daughter’s account for his own personal use.
On July 8, 2015, Cox pleaded guilty to one count of wire fraud, two counts
of mail fraud, and two counts of money laundering in July. Earlier this
month, he was sentenced for his crimes. He was ordered to spend five years
in prison followed by three years of supervised release. He was also ordered
to pay restitution to his victims in the amount of $412,252.
Court documents stated that Cox used his financial advisor position to
defraud multiple investors, including the disabled adult. In the case
of the disabled adult, Cox took small amounts over the course of three
months to allegedly avoid reporting requirements. When multiple checks
were written to Cox, officials became suspicious of the activity and federal
investigators became involved.
There were at least two other victims who accused Cox of defrauding them.
One was a man who accused Cox of asking him to transfer money from his
401k account to invest about $60,000 with a guaranteed 10% rate of return.
Cox was also accused of defrauding an elderly woman whose adult daughters
were managing her finances.
If Jason Cox served as your advisor and you lost money, you may be able
to take legal action. At Meyer Wilson, our investment fraud attorneys
have helped countless clients recover losses after being defrauded. We
would like to help you. Call today to schedule your
free case evaluation and learn your options.