BUFFALO, N.Y. (WIVB) – A Buffalo and Syracuse man have admitted taking part in a “black money” scam.
Authorities say Eugene Cooper, 38, of Buffalo and Gooding Vincent, 38, of Syracuse made up a story about the federal government dying money black or white to send to Africa. The dye is supposedly meant to allow the cash to be secreted past opposition leaders and can be restored by using chemicals, which they claimed they could provide.
Cooper and Vincent told a confidential informant in July 2013 that they had obtained $10,500 in this currency from the CIA. They sold it to the informant for $10,000. But the currency was actually blank paper dyed black or white.
Both men pleaded guilty Friday to using paper as money. Each could be sentenced to a year in prison in September, fined $100,000, or both.