MEMPHIS, TN – Authorities say a Memphis man has been charged with counterfeiting after he was found with thousands of dollars in fake money.
According to the U.S. Department of Justice, 30 year-old Terron Morton has been charged in a six count indictment for making and possessing about $6,500 in counterfeit money.
The court document states that during a sting operation, Morton agreed to sell an informant counterfeit money, in various dollar amounts, on several occasions. Morton is accused of making 325 fake $20 bills. According to the court document, Morton was willing to sell $4,000 in counterfeit money for $800 in genuine Federal Reserve Notes.
Investigators say more counterfeit money and the equipment used to make it was found during a search of Morton’s home.
"Our economy is weakened and honest business hurt when counterfeit currency is passed through the system," said U.S. Attorney Laurenzi. "With an ailing economy we expect counterfeit cases will be on the rise and the U. S. Attorney's Office takes these cases very seriously and will prosecute them to the fullest extent of the law."
"Counterfeiting is one of the oldest crimes known to man, and it continues to be a chronic problem. The United States Secret Service was created over one hundred and forty years ago to combat counterfeiting. The Memphis Field Office is unceasing in its investigative efforts to protect our nation's currency," said Richard Harlow, Special Agent in Charge, United States Secret Service.
Each count of the indictment carries a penalty of up to 20 years in federal prison.
This case was investigated by the United States Secret Service. Assistant United States Attorney Tim DiScenza is handling the case for the government.
