INDIANAPOLIS — An Indianapolis man received a sentence of five years in federal prison after he pled guilty to producing counterfeit bills two years ago.
The United States Department of Justice announced Thursday that 47-year-old Jacob Seyfried was sentenced after he was stopped by an officer with the Carmel Police Department for a traffic stop near 96th Street on Nov. 13, 2021. The officer initiated a traffic stop at the time after determining that the Cadillac Seyfried was driving had stolen license plates, the DOJ said.
During a subsequent search of the vehicle, the officer uncovered a total of $300 in counterfeit $100 and $50 bills, according to the DOJ. The officer first noticed a $100 bill tucked underneath the console inside the vehicle that looked brighter in color compared to regular dollar bills.
The DOJ said the officer also found a paper shredder and a Nike coat and backpack inside of a Kohl’s shopping bag.
Seyfried reportedly told the officer that he had just been released from jail days prior and was temporarily staying at the Clarion Hotel. He said he had borrowed the Cadillac and had just reportedly left Kohl’s where he did some shopping.
A search of Seyfried also uncovered an additional wad of fifty-dollar bills. Seyfried reportedly told officers that he had about $400 on him during the traffic stop.
Further examination of the dollar bills retrieved from Seyfriend and the Cadillac revealed that the majority of the bills possessed the same serial number.
CPD officers then visited the Kohl’s location where these counterfeit purchases had been made. Officers found that a $50 bill Seyfried used to purchase items at the retail store contained the same serial number as the counterfeit bills officers discovered during the traffic stop.
Officers proceeded to search the hotel room Seyfried had been staying in as part of the investigation. The search uncovered gel pens, double-sided tape, a waterproofer, a printing paper booklet, ink and paint, and two printers — all items Seyfried had been using to manufacture counterfeit bills, the DOJ said.
Police also found a total of eight pages containing $100 bills and four pages of printed $50 bills, all of which were counterfeit.
Seyfriend’s previous convictions include forgery, possessing a handgun as a convicted felon, and mail fraud. Additionally, the DOJ said Seyfried produced a counterfeit title for a stolen Dodge Charger worth $50,000 while he was on a pretrial release.
As part of Seyfried’s five-year federal prison sentence, he will also undergo three years of probation upon his release.
“Undeterred by multiple convictions and jail time, Mr. Seyfried continued to use fraud and deceit to line his pockets,” said Zachary A. Myers, the acting United States Attorney for the Southern District of Indiana. “Creating counterfeit currency is not a victimless crime, it harms everyone in our economy-stealing income from businesses and raising prices for consumers. The serious prison sentence here demonstrates that fraudsters and forgers will face serious punishment for economic crimes. I commend the Carmel Police Department and the U.S. Secret Service, along with our federal prosecutor, for their diligent work to ensure that this criminal is held accountable.”