Fresno Executive Indicted for $65 Million Fraud Scheme that Defrauded Farmer MAC and Others
FRESNO, Calif. / Monday, November 2, 2026 — Ron Cook, 58, of Fresno, has been indicted on multiple charges of making false statements to the federal government, wire fraud, aggravated identity theft, and money laundering for running a nearly $65 million fraud scheme through his company, Corporate America Lending (CAL), U.S. Attorney Eric Grant announced today.
Cook was arrested at his office this morning and will make his initial court appearance this afternoon.
According to court records, CAL is a lending company based in Fresno that originates loans for farmers, ranchers, and others who work in the agriculture industry. Once CAL originates the loans, it sells the interest in them to others, including investors, financial companies, and the Federal Agricultural Mortgage Company (Farmer MAC). Farmer MAC is a company backed by the federal government that provides increased access to affordable financing for the agriculture industry.
Beginning in 2023, the borrowers of a $58 million loan that Cook had originated and sold to one financial company refinanced the loan with another financial company. The first financial company did not know about the refinancing. Cook then made several misrepresentations to the borrowers, the first financial company, and the second financial company so that he would receive the $58 million refinance amount without the first financial company becoming aware and could keep the money for himself. When the first financial company found out about the refinancing, Cook transferred the money to his friends and associates to conceal its location. It was these transfers that resulted in the money laundering charges.
During this period, Cook also defrauded his other customers and investors. He defrauded his customers by stealing their identities and taking out loans in their names from Farmer MAC without their knowledge, and he defrauded his investors by selling them interests in loans that did not actually exist. It was Cook’s stealing his customers’ identities to get loans from Farmer MAC that resulted in the false statements to the federal government charge against him.
Cook obtained at least $64 million through his fraud scheme. He used the money to pay for his lifestyle and to pay debts that he owed to some of his customers and investors who had detected the fraud and threatened to file criminal charges against him. He also used the money to make political donations.
The Federal Bureau of Investigation conducted the investigation. Assistant U.S. Attorneys Arelis Clemente and Joseph Barton are prosecuting the case.
If convicted, Cook faces 30 years in prison and a $250,000 fine for the making false statements to the federal government charge. He faces 20 years in prison and a fine of up to $250,000 for each of the wire fraud and money laundering charges. Finally, he faces a mandatory two years in prison, consecutive to the sentence he receives for any other charges, for each of the aggravated identity theft charges. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the federal Sentencing Guidelines, which take into account a number of variables. The charges are only allegations; the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.
On April 7, the Department of Justice announced the creation of the National Fraud Enforcement Division (“Fraud Division”). The Fraud Division is laser-focused on investigating and prosecuting those who commit fraud against the American people. The Department’s work to combat fraud supports President Trump’s Task Force to Eliminate Fraud, a whole-of-government effort chaired by Vice President J.D. Vance to eliminate fraud, waste, and abuse within Federal benefit programs.
U.S. Department of Justice
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Source: Justice.gov
