The article DarkPriest linked to is about shops being "bulldozed" by burglers who the stores won't call the police on because they don't want to be accused of racism, allegedly, and so are allowing them to shoplift millions of dollars of merchandise.
Cheong was quoted as saying that they were using high-end automobiles that they "owned", but since the shoplifters aren't being captured, how can he know they own the cars?
"Cow" in this sense was used as a verb to mean "to frighten someone into doing something", in this case to frighten people into inaction for fear of accusations of racism (which, again, was the point of the article DarkPriest linked).
Yeah, probably, but...couldn't resist. It is a failing in me.