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Oregon Road Conditions & Cams Email Story to a Friend October 27, 2005 Medford scammer Cox faces embezzling charge By CHRIS CONRAD Mail Tribune It looks like a Medford financier who conned Jackson County investors out of millions in the early 1980s may have been up to his old tricks in Idaho, where he was arrested early this month for allegedly embezzling $150,000 from his employer. Steven Dearl Cox, 55, remains lodged in the Ada County Jail for his part in a scheme that had him siphoning company funds into a personal account via the Internet, said Garden City police Det. Alec Sarrazolla. Cox, who was jailed under the alias Cline, became the secretary-treasurer for Wholesale Diamond and Gold, a company based just outside of Boise. "How he got to that position is beyond me," Sarrazolla said. Cox had worked for the company for around 10 years, when his employers began to notice problems with the books. Also, around this time, Cox was spotted around town driving luxury cars. Advertisement Company officials eventually discovered that Cox had spent just under three years in prison in Oregon for selling unregistered securities to Jackson County investors. Cox was running a "pyramid" scheme, where he would pay new investors with money from existing accounts. In 1984, he fled the state after bilking investors out of around $4 million. He was caught in Nevada four years later and extradited to Oregon. Somehow Cox managed to downplay his role in the Medford scam and was allowed to continue working for the precious metals company. Monetary losses eventually became too much for his employers to ignore and Cox was arrested on suspicion of Internet crimes, theft and forgery. Garden City police estimate that he funneled around $150,000 into his own accounts from company funds. "That is a pretty low, conservative estimate," Sarrazolla said. When detectives searched his house they located several old receipts from his Jackson County restitution payments. Sarrazolla said that he was paying around $155 a month on the nearly $4 million in restitution he was ordered to pay. Sarrazolla said there are more forgery charges pending against Cox. He remains on parole for the crimes he committed in Medford. Reach reporter Chris Conrad at 776-4459, or e-mail Medford scammer Cox faces embezzling charge ">[email protected] . Mail Tribune Home | Local News | Sports | Business | Obituaries | Life | Opinion AP News | Archives | Site Map | Community | Classified Copyright © 1997-2005 Mail Tribune, Inc. All rights reserved. Privacy Policy | Terms & Conditions | Website Feedback www.bingo.com Home Security Systems Trunks, Footlocker dvd-r Distance Education Computer Security Cheap Website Hosting Discount Hotel Reservations Online Pharmacy Myspace Home Equity Loans Windermere Van Vleet Deep Muscle Stimulator Sports Equipment Online Casino Reviews Student Loans High End Computers Online Casino News Online Bingo Entertainment Guide Salvia Divinorum Online Casino Fundraisers Advertisement s