Pennybags was found Tuesday night in a safe house on Boardwalk here. A source close to the arrest operation reported Pennybags was unkempt, dressed in torn clothing and was thin from apparent malnutrition, "clearly indicating he hadn't passed 'Go' in several months."
The 74-year-old fugitive had eluded authorities for years, enabling him to expand his money counterfeiting empire throughout North America.
An anonymous witness tipped police Monday afternoon that Moneybags had boarded a first-class coach on the Baltimore & Ohio (B&O) Railroad and gave a rambling, alcohol-induced tirade on board.
"He obviously landed on Park Avenue one-too-many times," the witness told police, according to police reports.
In addition to counterfeiting official legal tender, a federal offense, authorities also consider him a suspect in orchestrating several jailbreaks by issuing "Get Out Of Jail Free" cards to unsuspecting prison wardens, and printing counterfeit "Free Parking" passes for Atlantic City residents, a violation of city parking ordinance. Moneybags will also be charged with luxury tax evasion.
Rick Dixon, head of the Treasury Department's Counterfeiting Task Force, said Moneybags was able to finance his illicit operations partly by using the community chest for funds and partly by chance. The Task Force was able to begin tracking Moneybags in 2005 when a wire transfer related to the acquisition of two public utilities, the Electric Co. and Water Works, was traced to a slush fund in Moneybags's name.
Moneybags had no comment at his arraignment last night, except to make a poignant statement on his life, saying "this is the game that goes on forever."
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1 comment:
I actually believe I saw him the other day at B&O railroad. Man, if only I had gone with my gut instinct, I would have gotten a cash reward!
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