Plea in Funny Money Case

Muskogee, OK – Texan pleads guilty to Okla. counterfeiting charge

MUSKOGEE, Okla. (AP) A federal prosecutor in Oklahoma says a Texas man has pleaded guilty to taking part in ring that spread counterfeit money in Oklahoma, Texas and Washington state.

U.S. Attorney Sheldon Sperling said Tuesday that 21-year-old Allen Kyle Osborne of Sherman, Texas, pleaded guilty in federal court in Muskogee.

Sperling says Osborne was part of a scheme to bleach $5 bills and pass them as $100 bills at businesses in the three states. The amount of counterfeit bills passed was not immediately available.

Sperling says sentencing will be set following a presentencing report and that Osborne likely faces 18-24 months in prison.

Copyright 2009 The Associated Press.