Three arrested in counterfeit scheme

A trio of individuals from Georgia have been arrested trying to purchase goods with counterfeit bills and in possession of more than $12,000 in counterfeit bills.

On Saturday, April 9th, officers with the Panama City Police Department were contacted by a business located in the 400 block of E. 23rd Street about individuals making purchases with counterfeit bills. Officers made contact with the loss prevention officer at the business who could identify the individuals.

Quintus Dean Riley, 51, and Frederick Eugene Stephens, 51, had been observed selecting items in the store and proceeding to check out, paying for more than $1,200 in goods with counterfeit $50 bills. The items were transferred to a waiting vehicle in the parking lot driven by Brandon Gerrard Frazer,  45.

Detectives with the PCPD arrived and during their investigation, located a fabric bag in the vehicle containing 86 counterfeit $100 bills and 72 counterfeit $50 bills, totaling more than $12,000 in counterfeit money.

Riley was charged with uttering a false bank note, ongoing scheme to defraud and grand theft, along with possession of more than 10 counterfeit notes. Stephens was charged with uttering a false bank note, ongoing scheme to defraud, petit theft and possession of more than 10 counterfeit notes. Frazier was charged with principal to utter a false bank note, principal to ongoing scheme to defraud, principal to petit theft, principal to grand theft and possession of more than 10 counterfeit notes. All were booked into the Bay County Jail.

Anyone with information in this case is asked to call the Panama City Police Department at 850- 872-3100, or they can report tips anonymously via smartphone by downloading the “Panama City PD” Tip411 app from the iOS or Google Play stores.