Federal authorities investigating a man who smuggled money into the country have seized 250 counterfeit bank notes in billion-dollar denominations, they announced Tuesday. The 250 bogus Federal Reserve notes had 1934 issue dates and were stained to make them look old, but no such currency exists, said U.S. Immigration and Customs Enforcement spokeswoman Virginia Kice. Federal authorities have not charged the man, Tekle Zigetta, in connection with the counterfeit notes, but warned that the sale or transfer of fake securities has increased in recent years. Scam artists typically sell phony government bank notes at a discounted value or use them...
