Notorious counterfeiter gets compassionate release

A federal judge reduced Louis "the Coin" Colavecchio's sentence to time served, but said he must remain in custody until an appropriate release plan is in place.

PROVIDENCE, R.I. (AP)– A Rhode Island man who calls himself the “world’s greatest counterfeiter” has been granted compassionate release from prison, where he was serving a 15-month sentence for producing fake $100 bills.

A federal judge in Providence on Wednesday reduced Louis Colavecchio’s sentence to time served, but said he must remain in custody until an appropriate release plan is in place.

The 78-year-old Colavecchio petitioned for early reason in February, citing several medical issues that made him susceptible to COVID-19.

U.S. Secret Service agents raided Colavecchio’s Pawtucket home in December 2018 and seized money presses and about 2,400 in fake bills. He pleaded guilty and was sentenced last August.

©The Associated Press 2020