CHARLOTTE — Federal investigators have uncovered a counterfeit money scheme at Carolina Place Mall, where suspects allegedly used fake cash to purchase $300,000 worth of jewelry.
The suspects, identified as Devin Elliott and Robert Elliott III, were arrested in Mississippi after allegedly tricking a jewelry store owner into accepting counterfeit money.
Chris Swecker, a former Assistant Director of the FBI Investigative Division, commented on the scheme, saying, “It’s a fairly creative scheme and it’s hard to pull off.”
According to the indictment, the suspects used a stack of real cash to convince a store worker at Solitaire Jewelry to hold $300,000 worth of jewelry.
They returned the next day, had the worker count $10,000 in real bills, and then used sleight of hand to swap in fake bills.
Prosecutors claim the suspects successfully executed this scheme 30 times, walking away with high-end items, including a $90,000 diamond watch and a $32,000 link chain.
The indictment describes how the suspects posed with stacks of cash on Instagram, possibly as a way to flaunt their ill-gotten gains.
An employee at the jewelry store expressed relief at the arrests but could not provide further details about the theft.
The arrests mark a significant step in addressing the counterfeit operation, with investigators continuing to piece together how the scheme was executed and how the stolen jewelry was fenced.
VIDEO: Deputies arrest 3 in $130K counterfeit check scheme in Iredell County
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