CRANSTON, RI – Louis “The Coin” Colavecchio, a repeat offender with a penchant for fake currency and a history of cons, is headed back to federal prison. Colavecchio, of Cranston, Rhode Island, was sentenced for counterfeiting $100 bills after a six-month U.S. Secret Service investigation culminated in a raid on his Coventry residence in December 2018. Agents seized $29,000 in bogus bills, a mechanical printing press, and a treasure trove of other counterfeiting materials.
The bust wasn’t a surprise to Colavecchio, apparently. Court documents reveal the career criminal brazenly told associates he was already prepping a defense – claiming he was a “counterfeit deterrence specialist” should he be caught *again*. This isn’t Colavecchio’s first rodeo with fake money. In 1997, he earned 27 months in federal prison for a large-scale counterfeiting operation targeting casinos in Atlantic City, New Jersey, and Foxwoods, Connecticut. The man clearly has a type.
But the casino scheme was just one chapter in Colavecchio’s long rap sheet. He’s also been convicted of larceny, after ripping off his own 92-year-old aunt for $100,000, resisting arrest, and even running a marijuana grow operation. The man is a one-stop shop for criminal activity. The audacity is almost impressive, if it wasn’t at the expense of honest citizens and legitimate businesses.
Adding another layer to the case, Colavecchio published an autobiography in 2015, detailing his life of crime and, disturbingly, his alleged interactions with the notorious Patriarca Crime Family. Whether this was a boastful attempt to glorify his past or a subtle plea bargain tactic remains unclear, but it certainly painted a picture of a man deeply entrenched in the criminal underworld.
U.S. District Court Judge John J. McConnell, Jr. handed down the sentence. United States Attorney Aaron L. Weisman and Special Agent in Charge of the U.S. Secret Service Stephen Marks announced the sentencing, highlighting the collaborative effort that brought Colavecchio to justice. Assistant U.S. Attorney Gerard B. Sullivan prosecuted the case. The Coventry and Pawtucket Police Departments also received thanks for their help in executing the search warrants.
Colavecchio pled guilty on March 19, 2019, to intent to defraud and possess counterfeit obligations. While the length of his current sentence wasn’t disclosed in the release, it’s clear the feds are tired of cleaning up after “The Coin.” This career criminal has consistently demonstrated a disregard for the law, and this latest conviction should finally put a serious dent in his ability to peddle fake currency and prey on others.
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Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
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