Man caught attempting to pass counterfeit currency sentenced to federal prison

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Pile of money
Pile of money.

A man who purchased printers and counterfeiting materials at Wal-Mart in in an attempt to create and pass off counterfeit notes in order to defraud a victim was sentenced today to two years in federal prison.

Peter Hobart, age 23, from Lisbon, Iowa, received the prison term after a guilty plea to dealing in counterfeit currency.

In a plea agreement, Hobart admitted he intended to defraud a victim by attempting to pass counterfeit currency in exchange for the victim’s Dodge Charger in addition to other vehicles, including a Jeep and water skis.  At sentencing, the victim testified that he abandoned the transaction.  Shortly thereafter, while on the phone, Hobart threatened to put a bullet in the victim if the victim did not return to complete the transaction.  Hobart stated he knew all about the victim and could kill his family.

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Hobart was sentenced in Sioux City by United States District Court Chief Judge Leonard T. Strand.  Hobart was sentenced to 24 months’ imprisonment and fined $100.  He was ordered to make $650.16 in restitution to the victim.  He must also serve a three-year term of supervised release after the prison term.  There is no parole in the federal system.


Hobart being held in the United States Marshal’s custody until he can be transported to a federal prison.

The case was prosecuted by Assistant United States Attorney Elizabeth Dupuich and investigated by the United States Secret Service, the Pocahontas Police Department, and the Emmetsburg Police Department.

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Court file information at https://ecf.iand.uscourts.gov/cgi-bin/login.pl

The case file number is 20-CR-3037.

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