Published: Jun 27, 2012 9:26 PM EDT

CAPE CORAL, Fla.- Police have made two arrests for counterfeiting US Currency in separate investigations.

Jerome Raymond Rillera of SW Santa Barbara Place was under investigation for counterfeiting bills. Detectives from the Cape Coral Police Department and the US Secret Service executed a search warrant on Rillera’s apartment this morning and seized counterfeit $10 and $20 bills as well as computer equipment used to make the bogus cash.

Rillera was charged Counterfeiting and Uttering counterfeited Federal Reserve Note. This was the result of a joint investigation between CCPD and the USSS. Rillera has been passing fake bills at area businesses for the past few months.

In a separate case, Cape Coral Police arrested Bryant D. Lipps (pictured left) last night on charges of possession of 10 or more counterfeit bills, outstanding arrest warrants and driving with a suspended license

Officers pulled over Lipps last night for a traffic violation and discovered an outstanding warrant. A subsequent search revealed that Lipps was in possession of the phony cash. Detectives were called and Lipps was questioned further. He confessed to his counterfeit operation and search warrant was served on his home. Detectives recovered counterfeit bills as well as computer equipment used to produce it.

If any local businesses suspect that they’ve received counterfeit bills, they are encouraged to contact the Cape Coral Police Department.

The US Secret Service’s website offers a lot of info on counterfeiting.   http://www.secretservice.gov/money_detect.shtml

Captain David Newlan, Captain of the CCPD's Detective Bureau said, “Our partnership with the US Secret Service has netted some major arrests this year, from the auto-insurance fraud investigation (Operation Whiplash) to this counterfeiting operation. It has also led to advanced training for our officers on the street which enabled them to recognize the counterfeit bills and turn a traffic stop into a major case."