New York Times, April 16, 1932, p.16

6 IN COUNTERFEIT GANG SENTENCED TO PRISON

Leader of Group That Printed $40,000 Bogus Money Gets 12 Years, Others Lesser Terms.

Six men, five of whom pleaded guilty to connection with a counterfeiting ring, while the other, who was tried in his absence and found guilty by a jury, were sentenced yesterday by Judge Grover M. Moscowitz in United States District Court in Brooklyn.

Louis Riggione of 174 Thompson Street, Manhattan, head of the ring, which printed more than $40,000 in spurious Federal Reserve $5 notes and which conspired to print a total of more than $1,000,000 in bogus money, was sentenced to twelve years in prison and to pay a fine of $10,000.

Riggione disappeared a week ago Thursday, a day after the trial began. The trial was continued as to him despite his absence. Riggione was in court yesterday and told Judge Moscowitz he had failed to appear because he was afraid of the consequences if convicted.

Four of the defendants pleaded guilty while the trial was in progress. Judge Moscowitz took this into consideration when he sentenced Peter Busch, an engraver, of 483 Willis Avenue, the Bronx, to four years in prison and a fine of $1,000; Quirino Constantino of 56-120 134th Street, Flushing, Queens, to two years; Joseph Mare of 66-17 Fifty-third Street, Maspeth, to two years and a fine of $10,000, and Louis Freda of 574 Warburton Avenue, Hastings, N. Y., to four months.

Charles Stern of 611 West 180th Street, the Bronx, pleaded guilty before the start of the trial and was used as a government witness. He was sentenced to eighteen months in jail and placed on probation for five years.

Caesar Contino of 1,525 Benson Avenue, Brooklyn, became mentally deranged during the trial and is still in the observation ward of Bellevue Hospital. The indictment was severed as to him and he will be brought to trial when he recovers his mental balance.
New York Times, April 16, 1932, p.16