Fountain Hills brothers who led a six person crime syndicate are accused of manufacturing and passing over $200,000 in US Savings Bonds at financial Institutions throughout the Valley.
Investigators say that from November 2016 until their arrest on August 8 there have been over $200,000 of counterfeit bonds cashed in at financial institutions in the Valley.
The alleged leaders of this six person syndicate are Anthony Manfredonia, 60, and his brother 54-year-old brother Frank.
Take a look at the map below to see all of the different location this crew targeted.
They were identified by the Secret Service and the Riverside County Sheriff's Office as the lead conspirators involved in manufacturing and passing many counterfeit bonds in California.
As part of the investigation, a GPS tracker was placed on Anthony’s car. When authorities raided homes in California, they reportedly found devices used to make the fake bonds. The brothers were gone when the raid was conducted and located in Fountain Hills near Shea and Fountain Hills boulevards.
According to the US Secret Service, they were tipped off to Frank after another co-conspirator was arrested in Connecticut and implicated him.
Investigators say the other co-conspirators involved in the Arizona syndicate are 54-year-old John stencil, Ami Riggs Paddock, 51, Robert Lowell Kunard, 54, and Holly Jivona Manfredonia, age 43.
Investigators say while the brothers manufactured the bonds these four would cash them in at financial institutions around the Valley.
Altogether the group passed over 215 bonds totaling over $200,000. Many other bonds they were attempting to cash were rejected by the banks. Paddock was the most prolific cashing in on over 120 bonds.
All six were arrested on August 8, in raids conducted by the Glendale police department. In Phoenix, Glendale and Fountain Hills.
Manufacturing equipment similar to what was found in the Riverside raids was allegedly also found in the Fountain Hills home.
All six have been charged with fraudulent schemes.