- Associated Press - Saturday, June 7, 2014

BUFFALO, N.Y. (AP) - Two New York men admit they took part in a scam in which they passed off paper as money, saying it had been dyed either black or white and could be restored.

The U.S. Attorney’s office in Buffalo says Eugene Cooper of Buffalo and Gooding Vincent of Syracuse face up to one year in prison after pleading guilty Friday to using paper as money.

Prosecutors say the men ran what’s referred to as a black money scam. Scammers tell victims that stacks of paper are bills that have been dyed to sneak past authorities. They ask for money to buy chemicals to restore the cash, promising to share it.

In this case they sold what they said was $10,500 worth of bills to a confidential informant for $10,000.

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