Three men in Del Rio are facing federal charges for their alleged involvement in a multi-million dollar investment scheme that spanned over seven years. According to United States Attorney Richard Durbin, Jr., and FBI Special Agent in Charge Christopher Combs, 56-year-old James Edward Cox of Waxhaw, NC; 49-year-old Kelly Ray Coronado of Del Rio; and, 53-year-old Gordon Richard Moskowitz of Sarasota, FL, are charged with conspiracy to commit wire fraud and conspiracy to commit money laundering.
The duo-count federal grand jury indictment unsealed this afternoon accuses the defendants of defrauding multiple victims out of more than $5 million through a high-yield investment scheme. They targeted vulnerable parties, primarily international non-profits, by promising large-scale financing in exchange for upfront payments. Their deceptive tactics included fake business entities, websites, and aliases to induce these payments.
Each charge carries a potential sentence of up to 20 years in federal prison, and the indictment also seeks the criminal forfeiture of Cox and Coronado’s residences, which are said to have been used to facilitate the scheme. The arrests were made earlier today; Cox was apprehended in Waxhaw, NC, while Moskowitz was arrested in Sarasota, FL. Coronado was taken into custody in Del Rio on Monday.
The FBI special agents based in Del Rio, Tampa, and Charlotte conducted the investigation that led to these charges. Assistant United States Attorney Paul T. Harle and Daniel S. Lee are prosecuting the case for the government. It is crucial to remember that an indictment is merely a charge, and the defendants are presumed innocent until proven guilty in a court of law.
This crime syndicate’s audacity to prey on unsuspecting victims with such grandiose schemes underscores the need for ongoing vigilance against white-collar crimes.
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Key Facts
- State: Texas
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Organized Crime
- Source: Official Source ↗
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