INDIANAPOLIS (AP) _ A 19-year-old man with money trouble tried to use his wedding ring as a down payment to hire a hit man to kill his pregnant wife and their 8-month-old son, authorities said.

Travis L. Moscrip promised to deliver the rest of the $2,000 fee when he got the payoff from his son's life insurance policy, authorities said.

The hit man was an undercover Marion County sheriff's deputy. Moscrip had told a friend he was looking for a hit man; the friend called police, authorities said.

Moscrip was charged with two counts of conspiracy to commit murder. He was being held Saturday in lieu of $50,000 bail; a trial was set for Aug. 21.

Chief Deputy Mike Hoak said investigators do not know why Moscrip wanted someone to kill his child and wife, who is five months pregnant.

Moscrip told the undercover deputy Wednesday that he was broke and ``peeled off his wedding ring'' to seal the deal, Hoak said. Moscrip was immediately arrested.

If convicted, he could get up to 50 years in prison on each count.