Eugene Stephan Cole, Credit Card Counterfeiting, Florida 2021

JACKSONVILLE, FL – Eugene Stephan Cole, 31, of Tampa, is facing a hefty prison sentence after admitting to possessing the tools to manufacture counterfeit credit and debit cards. Cole pleaded guilty this week, potentially paving the way for up to 15 years behind bars and a requirement to pay restitution to those he defrauded. The case, investigated by the U.S. Secret Service and the Florida Highway Patrol, highlights the ongoing threat of financial fraud in the Sunshine State.

The bust originated from a routine traffic stop. On March 4, 2020, a Florida Highway Patrol trooper pulled over a BMW driven by Cole in Columbia County for unspecified traffic infractions. The situation quickly escalated when Cole couldn’t produce a driver’s license and the trooper detected the smell of marijuana emanating from the vehicle. A subsequent search of the car turned up more than just weed.

Troopers discovered a trove of illegal equipment: a magnetic card encoder/re-encoder, a card embosser, various computer media, and 18 blank plastic cards – all primed for encoding stolen account information. They also found several credit and debit cards, three bearing Cole’s name and others with the names of multiple other individuals. A search of Cole’s person yielded a TD Bank Visa debit card embossed with the name “Austin Hudson.”

The U.S. Secret Service’s investigation swiftly confirmed the cards bearing Cole’s name, and the “Austin Hudson” debit card, were indeed counterfeit. Further digging revealed that the genuine cards recovered had been used to make fraudulent purchases in Tennessee. The scope of the fraud is still being determined as investigators continue to trace the financial trail.

As part of his guilty plea, Cole has agreed to forfeit all the seized equipment and computer media used in the fraudulent operation. The U.S. Attorney’s Office is now preparing for sentencing, where Assistant United States Attorney Kevin C. Frein will argue for the maximum penalty given the severity of the crime and the potential harm to victims.

This case serves as a stark reminder that even seemingly minor traffic violations can unravel complex criminal enterprises. The Secret Service and FHP are working diligently to combat the growing threat of financial crimes and bring perpetrators like Cole to justice. The investigation remains ongoing, and authorities haven’t ruled out the possibility of additional charges or co-conspirators.

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