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Cops find $1 billion in forgeries

Lloyd Norris

Lloyd Norris

LAWRENCEVILLE -- Jail records show Lloyd Clifford Norris was arrested in 1993 for writing a bad check. His bond was $240.

He is currently being held without bail on another alleged financial scam, this one much more grand in scale.

According to police, the 57-year-old Norris, of Duluth, recently tried to buy a Lawrenceville home with a counterfeit $225,000 U.S. Treasury Department promissory note.

Investigators arrested Norris during the loan closing on Feb. 4, according to reports, and also found him in possession of $600 million in fraudulent bonded promissory notes.

A subsequent search of his home, police said, uncovered approximately $1 billion in fraudulent notes and several printers and other counterfeiting instruments.

"Bonds were being printed ... and set up to be mailed out to different businesses' addresses," said Gwinnett police spokesman Cpl. David Schiralli.

According to reports, an attorney contacted Gwinnett investigators regarding Norris' request to buy the home at 500 Pebble Chase Lane using the promissory note, purportedly certified through Secretary of the Treasury Timothy Geithner.

Investigators soon determined the note to be fraudulent and found that Norris signed the loan documents under false pretenses, reports said.

While financial scams are not uncommon, Schiralli said police haven't seen anything to this scale in Gwinnett.

Norris is charged with residential mortgage fraud, a felony, and police said more charges are forthcoming.