Counterfeit Money

The criminal penalties for using counterfeit money depend on the circumstances of your case. For example, both state and federal law prohibit using counterfeit money, so it is possible you could be charged in either state or federal court. There are a number of other factors that go into sentencing, so it is best to consult a lawyer experienced in criminal fraud to give you the best advice about your case.

How Long Will You Go to Jail for Using Counterfeit Money?

Counterfeiting money or other securities is typically charged as a federal crime, meaning offenders are subject to prosecution under federal law. The United States Code makes forgery and counterfeiting currency serious criminal offenses. Under federal law, for example, the maximum punishment for those found guilty of altering, creating, knowingly passing or otherwise participating in counterfeiting 20 years in federal prison.

While counterfeiting and forgery of U.S. currency and securities are often charged at the federal level, most states also have laws against counterfeiting. State-level charges can be laid concurrently with federal charges, meaning that an alleged counterfeiter could face both federal and state criminal charges.

In Minnesota, for example, state law provides for a sentence of up to 25 years in state prison as well as a potential fine of up to $100,000. The severity of the penalty depends on the amount of currency or securities in question and it’s attempted use. If the forged or counterfeit currency involved totals more than $35,000, the maximum sentence may be applied. However, if the counterfeit currency involved is less than $1,000 in sum, the maximum sentence is one year and a fine of no more than $3,000.

Is There a Different Punishment for Counterfeit Coins vs Cash?

Coins are currency. If the sum is large enough, the punishment for using counterfeit coins would be the same as for currency bills or other securities.

However, portions of federal law do deal specifically in coins. Using counterfeit one and five-cent results in a penalty of no more than three years. Coins or bars forged with the intent to resemble minted products greater than 5 cents in value could lead to a criminal charge resulting in up to 15 years in prison.

Possessing counterfeit dies for coins is also a crime. Those who are found guilty of possession of such dies (without lawful authority) could face up to 15 years behind bars.

Can I Be Charged With Using Counterfeit Money if I Didn’t Know It Was Fake?

Prosecutors must prove that you knowingly created or used counterfeit currency to get a conviction. In other words, unknowingly using counterfeit currency is not a crime.

But claiming that you didn’t know the currency was fake is not a “get out of jail free” card. While it is true that many people may pass fake bills without knowing the difference, and that it is incumbent on any prosecutor to prove intent to defraud via the passage of false currency, it is still possible to be charged with the crime. If you suspect money or a check may be a forgery, it is best to consult local authorities on the matter before simply passing it to pay for goods or services.

Is Using Counterfeit Money a Felony?

At the federal level, crimes concerning counterfeit currency, securities or other obligations are considered felonies. At the state level, most counterfeiting crimes are considered to be felonies, but the passing of small currency in minor transactions—particularly for first-time offenders—may be considered as a misdemeanor offense.

Will You Go to Jail for Possession of Counterfeit or Fake Money?

It is certainly possible that you can be ordered to serve a jail or prison sentence if you are in possession of counterfeit currency—the key element being in “knowing” possession with the “intent to defraud” as laid out by federal law. If you have been accused of using counterfeit money, it is best to speak to a criminal defense lawyer to discuss your options and possible defenses.