3 men indicted on federal fraud charges

Three men face federal wire fraud and money laundering counts in Del Rio, after charging victims an advance fee to provide fraudulent financing services and profiting by more than $5 million from their scheme, federal authorities said.

A two-count federal grand jury indictment, unsealed Friday, charges James Edward Cox, 56, of North Carolina; Kelly Ray Coronado, 49, of Del Rio; and Gordon Richard Moskowitz, 53, of Florida.

The indictment alleges the trio created a high-investment scheme to obtain money from multiple victims under false pretenses.

From January 2010 to the beginning of this year, the defendants preyed on victims, the majority of whom operated international nonprofits, by promising large-scale financing in exchange for upfront payments, according to the indictment.