CEDAR RAPIDS, Iowa (AP) -- A northern Iowa man has pleaded guilty to making counterfeit $20 bills.
Federal prosecutors say 42-year-old Victor Ineson Jr., of Forest City, entered the plea Thursday in U.S. District Court in Cedar Rapids. Ineson admitted at the hearing that, from April through mid-May, he'd used chemicals to wash the print off lower denomination bills and reprint each bill to look like a $20 bill. He used some of the fakes at local retailers.
Two other charges were dropped in exchange for Ineson's plea. He's also agreed to pay restitution to the businesses where he'd used the counterfeits.
His sentencing has not yet been scheduled.