Florence, SC – Michael James Bembry, 28, of Florence, South Carolina, has confessed to being a key player in a sophisticated, multi-state counterfeit currency ring that flooded businesses with over $100,000 in fake cash. Bembry pled guilty in federal court to conspiracy to manufacture and pass counterfeit money, and manufacturing counterfeit money, charges stemming from operations in South Carolina and Pennsylvania.
The scheme, which began in 2015, wasn’t some basement operation. Bembry and at least eight other conspirators weren’t just printing money; they were meticulously *repurposing* it. The crew utilized a disturbing method: stripping genuine $1 and $10 bills of their ink using cleaning fluid or bleach, leaving behind blank, legitimate currency paper. This paper was then fed through printers using a genuine $100 bill – the “parent note” – to imprint the counterfeit images. The result? Numerous fake $100 bills all sharing the same serial number as the original “parent note.”
Federal prosecutors detailed how Bembry and his crew weren’t shy about putting their product into circulation. They targeted businesses, making small purchases with the counterfeit $100 bills and pocketing genuine currency as change. The operation wasn’t confined to South Carolina. The counterfeit network stretched across state lines, hitting businesses in North Carolina, Pennsylvania, and New Jersey. Investigators uncovered evidence of counterfeiting occurring at multiple residences in Florence, South Carolina, and even a room at the Roosevelt Hotel in Philadelphia, Pennsylvania.
The law finally caught up in May 2015 when local law enforcement in Egg Harbor Township, New Jersey, pulled over a vehicle driven by Bembry. A search revealed multiple counterfeit $100 bills, a genuine $100 “parent note,” a printer, and other essential counterfeiting materials. But Bembry didn’t stop there. In July 2016, he and an accomplice were caught passing a fake $100 bill at a business in Bryson City, North Carolina.
United States Attorney Sherri A. Lydon announced that Bembry now faces a maximum sentence of 20 years imprisonment and a $250,000.00 fine. U.S. District Judge Bryan Harwell will determine the final sentence after reviewing a presentence report prepared by the U.S. Probation Office. The investigation was a collaborative effort led by the U.S. Secret Service, with crucial assistance from the Florence County Sheriff’s Office, the Florence Police Department, the Egg Harbor Township Police Department, and the Bryson City Police Department.
Assistant United States Attorney A. Bradley Parham of the Florence office is prosecuting the case, receiving support from the United States Attorney’s Office for the Eastern District of Pennsylvania. This case serves as a stark reminder that even seemingly low-tech methods of counterfeiting can have significant economic consequences and will be aggressively pursued by federal authorities. The remaining defendants involved in the conspiracy are likely to face similar charges.
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Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
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