March 11, 1923, was a day of reckoning for a notorious gang of counterfeiters operating in the city that never sleeps. The United States Secret Service, led by Chief W.H. Moran, made a stunning announcement that would silence the rumors of millions of dollars in fake currency circulating in the streets. The truth, however, was far more mundane. The aggregate of counterfeit money put in circulation by the New York gang would not exceed $50,000, a paltry sum compared to the hysteria that had gripped the public.
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Key Facts
- State: National
- Category: Fraud & Financial Crimes
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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