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  • Writer's pictureBill Raines

Indianapolis Man Sentenced to Five Years in for Manufacturing Counterfeit Currency



INDIANAPOLIS - NOVEMBER 16, 2023 -Jacob Seyfried, 47, of Indianapolis, has been sentenced to five years in federal prison after pleading guilty to manufacturing counterfeit currency.



According to court documents, on November 13, 2021, a Carmel Police Department Officer initiated a traffic stop on a Cadillac with stolen license plates near 96th street. The driver was Jacob Seyfried. Seyfried stated that he had been released from jail about six days prior and had been staying at the nearby Clarion Hotel. He claimed that he borrowed the Cadillac and just finished shopping at Kohls.


The Carmel officer searched the vehicle and found a $100 bill under the console that appeared brighter in color than normal. The officer also found several receipts on the floorboard of the vehicle, a paper shredder in the trunk, and a Kohl’s shopping bag containing a Nike coat and backpack.


The officers searched Seyfried’s person and removed a wad of fifty-dollar bills. Seyfried told officers he had about $400 in cash on him at the time.


Officers examined the money and noticed that most of the bills had the exact same serial number. Officers recovered a total of $300 in counterfeit $100 and $50 bills. Officers went to Kohl’s and recovered the bills that Seyfried used to pay for his purchases, which were also counterfeit. A $50 bill Seyfried used at Kohls had the same serial number as the counterfeit bills police later found on his person.


At the Clarion Hotel, law enforcement officers searched the room Seyfried checked out of that morning. During their search, they located items used to manufacture counterfeit bills, including gel pens, double-sided tape, a water proofer, a printing paper booklet, several articles of ink and paint, and two printers. Officers also recovered eight pages of printed, counterfeit $100 bills, and four pages of printed counterfeit $50 bills.

Seyfried has a lengthy criminal history including convictions for forgery, possessing a handgun as a convicted felon, and a prior federal conviction for mail fraud. He was caught with a counterfeit title for a stolen, $50,000 Dodge Charger while on pretrial release in this case.


“Undeterred by multiple convictions and jail time, Mr. Seyfried continued to use fraud and deceit to line his pockets,” said Zachary A. Myers, United States Attorney for the Southern District of Indiana. “Creating counterfeit currency is not a victimless crime, it harms everyone in our economy-stealing income from businesses and raising prices for consumers. The serious prison sentence here demonstrates that fraudsters and forgers will face serious punishment for economic crimes. I commend the Carmel Police Department and the U.S. Secret Service, along with our federal prosecutor, for their diligent work to ensure that this criminal is held accountable.”

“The sentencing in this case is a testament to the outstanding work of the Carmel Police Department,” said Jeffrey R. Adams, Special Agent in Charge of the U.S. Secret Service Indianapolis Field Office. “We would like to thank the U.S. Attorney’s Office and the Carmel Police Department for their partnership in this investigation.”


The Carmel Police Department and U.S. Secret Service investigated this case. The sentence was imposed by U.S. District Court Judge James P. Hanlon. Judge Hanlon also ordered that Seyfried be supervised by the U.S. Probation Office for 3 years following his release from federal prison.


U.S. Attorney Myers thanked Assistant United States Attorney Adam J. Eakman, who prosecuted this case.


For breaking news and information go to lczephyr.org or like/follow the Lawrence County Zephyr Facebook page.


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