Huge Counterfeiting Ring Baffles U.S. Authorities

Federal authorities said Monday that they are baffled by two counterfeiting operations apparently aimed at immigrant communities and responsible for generating the largest number of bogus bills in the nation.

Clint Howard, special agent with the U.S. Secret Service, said the two operations have generated at least $500,000 in bogus $20 bills since August of last year. He said there is “almost certainly” more where that came from.

More than 100 people have been arrested since the phony bills began to appear. The largest seizure was $2,000. The arrests have done little to shed light on who is manufacturing the bills, Howard said. Most of the counterfeit bills are changing hands in places such as South-Central Los Angeles, Bell and Cudahy--areas heavily populated by immigrants.