NEWARK, NJ – Hollis Forteau, 38, of New Jersey, is trading freedom for five years in federal prison after being sentenced for orchestrating a sophisticated counterfeiting conspiracy that pumped over $235,000 in fake bills into circulation across the country. The operation wasn’t about slick forgery; it was a brazen, low-tech scheme that exploited a loophole in retail return policies.
According to court documents unsealed today, Forteau acted as the kingpin, printing convincing counterfeit $100 bills using a disturbingly simple method: bleaching $1 bills and then reprinting them with the likeness of Benjamin Franklin. He wasn’t just printing the money; he was distributing it to a network of accomplices who put it to work.
The scheme revolved around a classic “bust-out” – using the counterfeit currency to purchase goods at one retail location, then returning those same goods to a different branch for genuine cash. The operation wasn’t a one-off; the U.S. Secret Service’s counterfeit tracking application flagged the consistent appearance of these remarkably similar fake $100 bills since 2019, triggering a multi-state investigation.
“This wasn’t a hobby; it was a calculated effort to defraud businesses and undermine the integrity of our currency,” said a source within the Secret Service, speaking on background. “Forteau wasn’t just making fake money, he was actively profiting from it, taking a substantial cut of the proceeds from his crew.” The investigation revealed a widespread network, though authorities have yet to detail if other conspirators have been brought to justice.
The sentencing was handed down by U.S. District Judge Raymond A. Jackson following a prosecution led by Assistant U.S. Attorneys Rebecca Gantt and Andrew Bosse. U.S. Attorney Jessica D. Aber for the Eastern District of Virginia, along with Matthew Stohler, Special Agent in Charge of the U.S. Secret Service’s Washington Field Office, jointly announced the outcome of the case, highlighting the collaborative effort to dismantle the operation.
While Forteau is now behind bars, the case serves as a stark reminder that even seemingly simple counterfeiting schemes can have far-reaching consequences. Court documents related to Case No. 2:21-cr-28 are available for review on PACER and the websites of the U.S. Attorney’s Office for the Eastern District of Virginia and the District Court for the Eastern District of Virginia. The Secret Service continues to urge retailers and the public to remain vigilant in identifying and reporting counterfeit currency.
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Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
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