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Louis Colavecchio, Master Counterfeiter, Is Dead at 78 Louis Colavecchio, Master Counterfeiter, Is Dead at 78
(about 1 hour later)
In 1996, just after Louis Colavecchio was arrested by Secret Service agents and New Jersey gaming troopers at Caesars Palace in Atlantic City, he laughed. In 1996, just after he was arrested by Secret Service agents and New Jersey gaming troopers at Caesars Palace in Atlantic City, Louis Colavecchio laughed.
His red Honda, loaded up with nearly 800 pounds of high-quality counterfeit slot machine tokens, had easily made its way into the casino’s winding parking garage because of modifications to its trunk. His red Honda, loaded up with nearly 800 pounds of high-quality counterfeit slot machine tokens, had easily made its way into the casino’s parking garage because of modifications to its trunk. But a New Jersey trooper’s Buick cruiser, now hauling the bogus tokens in its trunk, was not so lucky.
The Buick of a New Jersey trooper, with the bogus tokens hauled into its trunk by the Secret Service, was not so lucky. Sagging under the weight of the coins, the rear of the police car dropped when it hit a speed bump, and its muffler and tailpipe were knocked off. As he recalled in his memoir, “You Thought It Was More: Adventures of the World’s Greatest Counterfeiter” (2015), Mr. Colavecchio, riding in the back seat, chuckled at the trooper’s misfortune.
Under the weight of the coins, the rear of the car dropped when it hit a speed bump, knocking off its muffler and tailpipe, Mr. Colavecchio recalled in his memoir, “You Thought It Was More: Adventures of the World’s Greatest Counterfeiter” (2015). He chuckled at the trooper’s misfortune from the back of the police car. For Mr. Colavecchio, who was known as “The Coin,” it was one in a string of adventures, misadventures and criminal enterprises that drew the attention of law enforcement and the disdain of casinos everywhere — and one that started an unlikely friendship with a police investigator.
For Mr. Colavecchio, who was known as “The Coin,” it was one in a string of adventures, misadventures and criminal enterprises that drew the attention of law enforcement and the disdain of casinos everywhere — and started an unlikely friendship with a police investigator. Mr. Colavecchio died on July 6 at 78 at the home of his daughter, Susan Taglianetti, in Cranston, R.I. Andy Thibault, his friend and a co-author of the memoir, confirmed the death. He did not give a cause, but Mr. Colavecchio had been under hospice care, and court records showed that he had dementia, chronic obstructive pulmonary disease and hypertension.
Mr. Colavecchio died on July 6 at the home of his daughter, Susan Taglianetti, in Cranston, R.I. He was 78. He died only a few weeks after a federal judge had granted him compassionate release from the Federal Medical Center in Butner, N.C., a prison for inmates with special health needs. He had been serving a 15-month sentence for a counterfeiting conviction.
Andy Thibault, his friend and a co-author of the memoir, confirmed the death. He did not give a cause, but Mr. Colavecchio had been under hospice care, and court records showed that he had several health conditions, including dementia, chronic obstructive pulmonary disease and hypertension.
He died only a few weeks after a federal judge granted him compassionate release fromthe Butner Federal Medical Center in North Carolina, where he had been serving a 15-month sentence for a counterfeiting conviction.
For Mr. Colavecchio, a craftsman and former jewelry maker, there was nothing more thrilling than creating counterfeit slot machine coins. The coins he made were so detailed that even federal officials and casino workers found it challenging to distinguish his fakes from legitimate ones under a microscope.For Mr. Colavecchio, a craftsman and former jewelry maker, there was nothing more thrilling than creating counterfeit slot machine coins. The coins he made were so detailed that even federal officials and casino workers found it challenging to distinguish his fakes from legitimate ones under a microscope.
“He was charming,” Mr. Thibault said. “And I perceived him to be a real person, although I didn’t know the totality of Louis.”“He was charming,” Mr. Thibault said. “And I perceived him to be a real person, although I didn’t know the totality of Louis.”
Mr. Colavecchio was born on Jan. 1, 1942, and spent part of his early life in Warwick, R.I., his childhood friend, Mary Ann Sorrentino, wrote in an opinion article in The Providence Journal. He graduated from Providence College in 1964 with a degree in business administration, The Journal reported. Court records show that in September 2015 he enrolled at the Community College of Rhode Island.Mr. Colavecchio was born on Jan. 1, 1942, and spent part of his early life in Warwick, R.I., his childhood friend, Mary Ann Sorrentino, wrote in an opinion article in The Providence Journal. He graduated from Providence College in 1964 with a degree in business administration, The Journal reported. Court records show that in September 2015 he enrolled at the Community College of Rhode Island.
He grew up with a sister and a brother who later became a Jesuit missionary, Ms. Sorrentino wrote. He grew up with a sister and a brother who became a Jesuit missionary, Ms. Sorrentino wrote. (Information about survivors was not immediately available.)
Information about survivors was not immediately available. Casino officials were often too embarrassed to admit that they had been swindled by Mr. Colavecchio, said Franz Douskey, his friend and the other co-author of his memoir. He was barred from every casino in the country, The Associated Press reported. Nonetheless, he had disguises that he used to outwit pursuers.
Casino officials were often too embarrassed to admit they had been swindled by Mr. Colavecchio, said Franz Douskey, his friend and the other co-author of his memoir. He was barred from every casino in the country, The Associated Press reported. Nonetheless, he had disguises, labeled in boxes and bins with the names of different casinos, that he used to fake his own appearance and outwit pursuers. Though available court records give an incomplete picture, they show that over the decades Mr. Colavecchio faced a series of charges, including bank, mortgage and insurance fraud. But counterfeiting was his calling card.
Though available court records give an incomplete picture, they show that over the decades Mr. Colavecchio faced a series of charges, including bank, mortgage and insurance fraud.
But counterfeiting was his calling card.
In 1997, he was sentenced to 27 months in prison for his phony casino coins. In 2019, he was sentenced to 15 months, this time for producing thousands of counterfeit $100 bills.In 1997, he was sentenced to 27 months in prison for his phony casino coins. In 2019, he was sentenced to 15 months, this time for producing thousands of counterfeit $100 bills.
“They call it a correctional institute, but they didn’t correct him,” Mr. Douskey said in an interview. “They call it a correctional institute, but they didn’t correct him,” Mr. Douskey said in a phone interview.
All of his work was meticulous, intelligent and done with a keen focus. He could toil alone under microscopes for days, spurred by a desire to trick the federal government and the casinos. All of Mr. Colavecchio’s work was meticulous. He could toil alone under microscopes for days, filled by a desire to trick the federal government and the casinos. He would not brook the possibility of an error; each die had to be perfect.
He never wanted the possibility of an error; each die had to be perfect.
“Making counterfeit items must have appealed to me in some way that I didn’t understand,” Mr. Colavecchio wrote in his book.“Making counterfeit items must have appealed to me in some way that I didn’t understand,” Mr. Colavecchio wrote in his book.
And he did it for kicks.And he did it for kicks.
“Just because he thought he could,” Jerry Longo, a retired Connecticut State Police sergeant, said in an interview. “Just because he thought he could,” Jerry Longo, a retired Connecticut State Police sergeant, said.
Mr. Colavecchio perfected his craft over about four years, Mr. Longo said, making thousands of chips and slot tokens for 36 casinos. Mr. Colavecchio perfected his illicit craft over about four years, Mr. Longo said, making thousands of chips and slot tokens for 36 casinos. At one point, the Treasury Department even sought his expertise. According to court records, the department paid him $18,000 after he was released from federal prison in 2000 because his manufacturing dies had outlasted those of the U.S. Mint.
At one point, the Treasury Department even sought his expertise. According to court records, the department paid him $18,000 after he was released from federal prison in 2000 because his manufacturing dies outlasted those of the U.S. Mint.
Federal officials can only guess how much Mr. Colavecchio swindled from the casinos, but it was probably several million dollars, based on the number of tokens produced and average slot payouts, Mr. Longo said.Federal officials can only guess how much Mr. Colavecchio swindled from the casinos, but it was probably several million dollars, based on the number of tokens produced and average slot payouts, Mr. Longo said.
He recalled that as he was investigating Mr. Colavecchio, he could see, from his office in Meriden, Conn., the industrial complex where Mr. Colavecchio bought materials for his coins.He recalled that as he was investigating Mr. Colavecchio, he could see, from his office in Meriden, Conn., the industrial complex where Mr. Colavecchio bought materials for his coins.
His tokens were masterly because he crushed the originals and got the exact breakdown of their composition, Mr. Longo said. Mr. Colavecchio purchased the material, bought a press and, using a laser-cutting die, made molds and copies.His tokens were masterly because he crushed the originals and got the exact breakdown of their composition, Mr. Longo said. Mr. Colavecchio purchased the material, bought a press and, using a laser-cutting die, made molds and copies.
“It’s like having access to the U.S. Mint on the weekend, printing your money and leaving,” Mr. Longo said.“It’s like having access to the U.S. Mint on the weekend, printing your money and leaving,” Mr. Longo said.
Mr. Longo said he developed a friendship with Mr. Colavecchio after he turned himself in to the State Police. Mr. Colavecchio, he recalled, came with his lawyer, thinking that he was going to be thrown against the wall as news reporters watched. Mr. Longo said he befriended him after Mr. Colavecchio had turned himself in to the state police. Mr. Colavecchio, he recalled, came with his lawyer, thinking that he was going to be thrown against the wall as news reporters watched.
Instead, they had doughnuts.Instead, they had doughnuts.
“You like doughnuts? I like doughnuts. Let’s have a doughnut and talk,” Mr. Longo recalled telling Mr. Colavecchio.“You like doughnuts? I like doughnuts. Let’s have a doughnut and talk,” Mr. Longo recalled telling Mr. Colavecchio.
He said he fingerprinted Mr. Colavecchio and handed him doughnuts and coffee. He said he fingerprinted him and handed him doughnuts and coffee.
Mr. Colavecchio later sent Mr. Longo a Christmas card at his office. “Merry Christmas,” he wrote. “You were one of the good guys.” Mr. Colavecchio later sent Mr. Longo a Christmas card. “Merry Christmas,” he wrote. “You were one of the good guys.”
The two became closer during a college tour to promote Mr. Colavecchio’s book. Mr. Longo wrote the foreword. The two became closer during a college tour to promote Mr. Colavecchio’s book. Mr. Longo wrote the foreword. The relationship, he said, was like that of two high school classmates catching up with each other years later.
The relationship, he said, was like that of two high school classmates catching up with each other years later.
“I knew he wasn’t going to give up his lifestyle,” Mr. Longo said. “And I wasn’t either.”“I knew he wasn’t going to give up his lifestyle,” Mr. Longo said. “And I wasn’t either.”