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Counterfeit Securities Scandal Rocks Sioux Falls
In a shocking turn of events, a brazen counterfeit securities scheme has been uncovered in Sioux Falls, South Dakota. Charles Earl Davis, a/k/a “Feno,” age 26, of Sioux Falls, and Travis Cornelius Maberry, a/k/a “Cozo”,” age 27, of Chicago, Illinois, have been indicted by a federal grand jury on August 13, 2013, for dealing in counterfeit securities and possession of counterfeit securities.
According to sources, the maximum penalty upon conviction for this heinous crime is up to 20 years in custody, a $250,000 fine, or both; 5 years of supervised release; and $100 to the Federal Crime Victims Fund. Restitution may also be ordered.
The charges are merely accusations and both men are presumed innocent until and unless proven guilty.
The investigation is being conducted by the Sioux Falls Police Department and the U.S. Secret Service. Assistant U.S. Attorney Jeffrey C. Clapper is prosecuting the case.
Both Davis and Maberry appeared before U.S. Magistrate Judge John E. Simko on August 20, 2013, and pled not guilty to the indictment. A trial date has not been set.
Davis and Maberry were remanded to the custody of the U.S. Marshals Service. As the investigation unfolds, authorities are working tirelessly to bring those responsible to justice.
The public is urged to remain vigilant and report any suspicious activity to the authorities. In the meantime, the Grimy Times will continue to provide updates on this developing story.
Key Facts
- State: South Dakota
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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