A man is facing charges in Fulton County after allegedly defrauding a local financial institution of more than $175,000.
According to the affidavit for arrest for 40-year-old John Bradley Cox filed Oct. 17, in June of 2022, Cox obtained two separate bank loans, one in the amount of $20,000 for farm equipment, a wire stretcher and post driver and the second loan in the amount of $159,000 to purchase more than 200 head of cattle.
On Sept. 24, the manager of the bank contacted the Fulton County Sheriff’s Department regarding the issue.
The following day, authorities were contacted by Kenny Edgin who does repossessions for the bank.
Edgin said on Sept. 10, he went to Cox home to pick up cattle, however he was told approximately 125 had been sold with only 75 remaining.
Edgin said he spoke to Cox and told him he would be back Sept. 17 to pick up the cattle and an agreement was made, however; on Sept. 16, Cox contacted Edgin to let him know the remaining cattle had been sold.
On Oct. 2, Salem Police Chief Shad Overman and Fulton County Detective Dale Weaver conducted an interview with Cox in reference to the selling of mortgaged property.
Cox said he had sold all of the property except the fence stretcher. When asked about his father’s name being on the property deed, Cox said he’d had his father’s name removed and had given the bank a copy.
The following day, Cox provided a copy of the deed to authorities.
As a result, Cox has been charged with defrauding a financial institution, a class D felony. His bond was set at $10,000.
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