Luke Morgan was indicted Nov. 10, 2010 on three counts of counterfeiting obligations or securities of the United States.
On Wednesday, Morgan pleaded to one count, counterfeiting seven $20 notes, according to his plea agreement. He faces up to 20 years in prison and a fine of up to $250,000.
Kaplan police chief Boyd Adams said Morgan was running a counterfeit business out of his home on Odilon Road in Kaplan.
Adams said people paid $20 in real money in exchange for $100 in counterfeit money from Morgan.
When officers located Morgan, they found seven $20 notes, five $5 notes and three $1 notes on him, according to court filings entered in Morgan’s plea.
A confidential informant led officers to the counterfeiter after he allegedly asked the informant to borrow money to produce the counterfeit bills, the plea filings stated.
Morgan told officers that he had produced the money earlier in the week and that he also had 16 sheets of counterfeit currency at his home, according to the plea filings.
Morgan consented to a search of his home, where authorities found the computer and printer he used to make the fake money, the plea filings stated.