The Jackson County Prosecutor’s Office has decided not to file charges at this time against a Jackson County man initially linked to the use of counterfeit $50 bills.

Rickey Gene Welsh, 33, of Norman, who was arrested earlier this week on a Level 5 felony charge of fraud on a financial institution and a Class A misdemeanor theft charge in connection with the purchase of car speakers, has been released from jail, Chief Deputy Prosecutor Jeff Chalfant said Friday.

The speakers were purchased July 19 for $150 from a person living in the 4400 block of North County Road 975W in Norman, according to a news release from the Jackson County Sheriff’s Department.

The person selling the speakers found out the money was counterfeit when trying to spend one of the three $50 bills received in the sale, police said. Police said another counterfeit $50 bill was used at a store in Brownstown on July 20. All of the bills in question had the same serial number, police reported.

County Detective Tom Barker and Reserve Officer Scott Davis investigated and were assisted by Brownstown Officer Tom Wright.