$1 Million in Counterfeit Bills Seized : Argentine Arrested as He Allegedly Turned the Crank

Nearly $1 million in counterfeit $10 and $20 bills was seized Friday as federal agents and undercover Los Angeles County sheriff’s deputies arrested an Argentine citizen while he allegedly printed his bogus currency.

Nicolas C. Tano, 61, was arrested in an office on Foothill Boulevard in Arcadia, said Ron Williams, head of the U.S. Secret Service counterfeit squad in Los Angeles. The arrest followed a two-week investigation by his agency, the Sheriff’s Department and the U.S. Drug Enforcement Administration.

Drug Investigation

Authorities said they became aware of the counterfeit operation through a drug investigation already under way by the DEA and sheriff’s deputies, Williams said at a Friday night press conference.

Displayed nearby, as he spoke, were boxes of bogus money, printing plates and a camera that Williams said had been made by hand by Tano. The bills were laid out on shiny white sheets, not yet cut into individual pieces. The green color appeared overly dark. Williams judged the counterfeit quality as “fair. There are a lot better jobs that have been done.”

The initial drug investigation led to the seizure last week of about $250,000 in counterfeit bills, along with eight kilograms of cocaine, Williams said. “During the course of the investigation it became available for us to introduce an undercover person to Mr. Tano,” he added.

Negotiated With Tano

After an undercover sheriff’s deputy negotiated with Tano to buy the counterfeit money, Tano was arrested about 11 a.m. Friday. Williams said the counterfeit money collected through the two seizures totaled $1.15 million.

Tano, who lives in El Monte, had no prior arrest or conviction for counterfeiting, Williams said. Tano was arraigned Friday afternoon before a U.S. magistrate at the Federal District Courthouse, and is being held without bail.