Published: August 08, 2009 11:34 pm      

Monroe police arrest two in alleged counterfeit operation

The Monroe County Sheriff’s Department has busted a counterfeiting operation in Peterstown.

Sheriff Mike Gravely said the operation was intercepted Tuesday by the combined efforts of his office, the Giles County, Va., Sheriff’s Department, U.S. Secret Service and West Virginia State Police.

The sheriff said several hundred dollars of counterfeit currency was confiscated.

“Most of the bills printed were $20s, but we have seen evidence of $50 bills as well,” Gravely said Saturday.

“We received a tip from a source in Giles County that this was going on, obtained a search warrant and made the arrests, ironically, in an apartment building that was at one time the Old Peterstown Bank.”

Dustin Bailey, 18, and Jeremy Lindsey, 19, both of Peterstown, are being held at the Southern Regional Jail. Bailey is being held in lieu of $75,000 bond, and Lindsey’s bond is set at $50,000.

“These are just two of the main players involved,” Gravely said. “The investigation is still ongoing. It does not mean that there aren’t more, but we are certainly glad to bust this one.

“Operations like this downgrade the economy and make business owners suffer,” the sheriff said. “Anytime you are dealing with counterfeit money, everyone loses all the way around.”

The sheriff said he anticipates that more arrests will be made in Giles, Monroe and surrounding counties.

Authorities advise people to be on the lookout for counterfeit bills.

“If you come into contact with something that looks suspicious, take it to a bank and contact your local sheriff’s department or State Police office,” Gravely said.

— E-mail: cclark@register-herald.com