DEL RIO, Texas (AP) – A Southern Texas federal judge sentenced three men to jail and ordered the repayment of more than $ 4.2 million in an investment scam targeting non-profit groups.
Prosecutors announced Friday the sanctions provided for in the program in effect from 2010 to 2017, under which a promise of large-scale funding had been promised to non-profit organizations in exchange for upfront payments.
The records show that Kelly Ray Coronado, 51, of Del Rio, pleaded guilty to conspiracy to commit computer fraud and was sentenced Wednesday to 51 months in prison. 59-year-old co-accused James Edward Cox of Waxhaw, North Carolina, pleaded guilty to the same charge and is serving a six-and-a-half-year sentence.
A third man, 55-year-old Gordon Richard Moskowitz of Sarasota, Florida, pleaded guilty to conspiring to launder money and was sentenced to nearly four years in prison.
The indictment alleges that from January 2010 to January 2017, the defendants implemented the scheme to obtain money from several victims under false pretenses, promises and representations.
The indictment further alleges that the defendants were attacking vulnerable parties – most of whom operated international non-profit organizations by promising large-scale financing in exchange for upfront payments.
The accused used fake commercial entities, websites and pseudonyms, officials said.
The defendants would make initial payments and then work together to thwart the detection of law enforcement and the rights of the victims, officials said.
The accused could be sentenced to 20 years in federal prison.
The indictment also seeks to confiscate the Cox and Coronado residences that were allegedly used in this operation.
Neighbors have been complaining about this house for years and city leaders have recently brought them to justice.
This civil case is ongoing, although there is no confirmation of the FBI recession last Friday.
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