Two Kentucky residents cheated borrowers and investors out of more than $3 million, a federal grand jury has charged.

Mark Carroll, 47, of Lexington and Luke Curry, 36, of Bowling Green were indicted in federal court in Rockford, Illinois, last week and were scheduled for an initial court appearance there Wednesday.

According to the indictment, Carroll and Curry duped two victims out of a total of $1 million by falsely offering them a line of credit that required a deposit of 20% of the amount.

Curry and Carroll promised to hold the deposit, but moved the money to another account and didn’t fund the line of credit, the indictment charges.

The two allegedly used the money for other purposes, including donating money to a school that was not named in the indictment.

The indictment also alleges that four victims loaned Carroll and Curry a total of $2.2 million that supposedly would be used for investments.

Carroll and Curry said the lenders would get back all their principal plus a guaranteed rate of return on the loan, but used the money for other purposes and didn’t return the principal or pay a return, according to the indictment.

The indictment cited financial transactions that were processed through a computer server in northern Illinois. One business in northern Illinois was listed as a victim, explaining why the indictment was filed in that region.

The companies associated with the two that were named in the indictment were Catapult Marketing, Catapult Funding and FX International Trading LLC.

Carroll and Curry face multiple charges of wire fraud, which is punishable by up to 20 years in prison.

The U.S. Department of Justice said in a news release that the FBI is seeking help from the public in identifying other potential victims of the alleged fraud associated with Carroll and Curry.

Anyone who believes they were a victim can email finfraud2023@FBI.GOV or call 1-800-CALL-FBI.