News

Maryland Brothers Sentenced to Prison for Counterfeiting Scheme


Over $4.5 Million in Counterfeit Currency Recovered

FOR IMMEDIATE RELEASE
March 14, 2011

Greenbelt, Maryland - Chief U.S. District Judge Deborah K. Chasanow sentenced Glendon Reid, age 29, of Glenn Dale, Maryland, and his brother Sheldon Reid, age 27, also of Glenn Dale each to 46 months in prison, followed by three years of supervised release, for a counterfeiting conspiracy that lasted from about 2005 through 2008, as well as transferring and passing counterfeit $100 notes

The sentences were announced by United States Attorney for the District of Maryland Rod J. Rosenstein and Special Agent in Charge David Beach of the United States Secret Service – Washington Field Office.

According to the Reids’ plea agreements and the indictment to which they pleaded guilty, beginning in about 2005, the Reid brothers removed ink from genuine $1 and $5 bills and then used digital images of $100 bills to print counterfeit $100 notes on the now “bleached” lower-denomination bills. They also transferred the digital images and taught their bleaching process to other for the purpose of producing additional counterfeit currency.

According to trial testimony, the Reid brothers themselves and through intermediaries sold their counterfeit bills “wholesale” for approximately 40% of face value. They would also defraud merchants by using the counterfeit notes to purchase merchandise which they would then return for cash refunds, thus improving their profit margin.

Law enforcement has recovered over $4.5 million in counterfeit currency nationwide that was produced as a result of the Reid brothers’ actions.

United States Attorney Rod J. Rosenstein commended the U.S. Secret Service for their work in the investigation. Mr. Rosenstein thanked Assistant United States Attorneys Robert K. Hur and Adam Ake, who are prosecuting the case.

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