Man Makes, Spends Over $400,000 In Fake Money Sentenced
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TYLER, Texas (AP) — A North Texas man who meticulously made and spent more than $400,000 in fake money has been sentenced to nearly six years in prison.
A federal judge in Tyler on Tuesday sentenced 58-year-old Cloyd Ray Knight III of Arlington in a case involving bogus $100 bills.
Knight in May 2013 pleaded guilty to passing counterfeit bills. He fled but was recaptured in January.
Prosecutors say Knight since 2004 developed a counterfeiting process that included using newspaper print paper, painting the paper with acrylic, printing simulated watermarks and security threads on the paper and spraying the fake notes with a dulling coat.
Knight operated in Texas and Louisiana by using counterfeit bills to purchase goods and receiving legitimate cash as change.
Knight was sentenced to 69 months behind bars.
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