Authorities in Fargo, N.D., say they've recovered materials alleged to have been used in the manufacturing of several thousand dollars in counterfeit bills.

Fargo Deputy Chief Patrick Claus says the department and the U.S. Secret Service initiated an investigation into reports of counterfeit currency being distributed within the Fargo-Moorhead area beginning Dec. 31.

The Forum newspaper reports that four incidents involving fake bills were reported on Wednesday in Fargo, two in Moorhead, Minn., and one in West Fargo.

The Red River Valley SWAT Team executed a search warrant on Thursday morning that resulted in equipment used to manufacture the counterfeit $20, $10, $5 and $1 bills.

Claus said Terry Higdem, 32, and Nicholas Seeley, 33, both from Fargo, were each arrested on a counterfeiting charge.