Iziah Cox, 37, and Kaya Cox, 41, both from Albany, were arrested on Tuesday as part of a fraud investigation named Operation Tidal Wave. The operation included court-authorized searches at more than 15 locations and led to the seizure of 134 firearms. Iziah Cox was also charged with unlawfully possessing a firearm as a felon.
According to federal authorities, the brothers are accused of conspiring to make false statements to financial institutions by creating an extensive network of New York State business entities and “Doing Business As” names in Albany County. They allegedly misused the names of legitimate companies without any real connection to those businesses. The complaint states these trade names were used to open multiple bank accounts that received wire transfers and checks from domestic and international scams targeting real companies.
During the execution of search and seizure warrants related to the fraud case, investigators recovered firearms from two residences in Albany and Troy as well as storage units in Menands. Many guns were reportedly hidden inside stereo equipment.
The charges are accusations at this stage, and both defendants are presumed innocent unless proven guilty.
Acting United States Attorney John A. Sarcone III commented: “This is one of the largest firearms seizures, if not the largest firearms seizure, in the history of the Northern District of New York. The number of firearms is significant, but more important are the many lives saved as a result of Operation Tidal Wave now that these guns cannot be used to kill and maim people. Albany and Troy are much safer today than they were last week. This is what happens when federal, state and local law enforcement work together, which has been one of my top priorities since taking office five months ago.”
FBI Special Agent in Charge Craig L. Tremaroli said: “This seizure, one of the largest ever recorded in our district, is the direct result of the tremendous partnerships displayed throughout Operation Tidal Wave. These guns will never make it into the hands of dangerous criminals looking to wreak havoc in our communities. The FBI is grateful to our partners for standing shoulder to shoulder with us in our shared goal of keeping our communities safe.”
Both defendants face conspiracy charges that carry a maximum sentence of five years in prison along with possible fines up to $250,000 and supervised release for up to three years. Iziah Cox faces an additional firearm charge that carries up to 15 years imprisonment if convicted.
United States Magistrate Judge Paul J. Evangelista ordered both men detained pending trial after their initial appearance in federal court earlier this week.
Albany Police Chief Brendan Cox stated: “Operation Tidal Wave represents our ongoing efforts to reduce gun violence. By seizing this large amount of illegal firearms, we have directly prevented these weapons from being used to harm our community. Each firearm removed from our streets is one less threat to our neighborhoods. The Albany Police Department is grateful for our partnerships we have with our federal, state and local agencies. Together, we are committed to protecting the public and holding offenders accountable.”
Troy Police Chief Daniel DeWolf added: “I’m thrilled and proud we took this many guns off the street, and also of the collaboration that led to these historic seizures. We are all working together to achieve our collective mission of reducing violent crime.”
The investigation continues under the leadership of the FBI’s Albany Regional Financial Crimes Taskforce with assistance from several agencies including Internal Revenue Service-Criminal Investigation; United States Postal Inspection Service; New York State Comptroller’s Office; Albany County Sheriff’s Office; Albany Police Department; Troy Police Department; New York State Police; Capital Region Crime Analysis Center; and New York State Intelligence Center.
Assistant U.S. Attorneys Joshua R. Rosenthal, Matthew M. Paulbeck, and Benjamin S. Clark are prosecuting these cases.
