A District man who advertised the sale of mortgage loan notes in The Washington Post has been arrested and charged with interstate transportation of stolen property after he allegedly sold a fraudulent mortgage note to a Virginia couple.

Jeffery Charles Dreskin, 41, of 2501 M St. NW, was arrested by FBI agents Friday and is being held without bond in the District pending a preliminary hearing, according to law enforcement authorities.

Dreskin is accused in court documents of selling a mortgage note this summer to the Virginia couple for $5,000 after he had sold the same note last year to a Houston corporation.

Law enforcement authorities say they suspect Dreskin might have sold more than $100,000 worth of allegedly stolen securities in the Washington area.

Authorities are asking anyone who might have done business with Dreskin or his firms to contact the FBI's Washington field office at 252-7801.

Dreskin, who previously lived in Florida and Texas, published two advertisements in The Post during July.

According to court documents, he used two company names, Morco Investments and Loan Mortgages Diversified, which listed a telephone number and advertised an extremely high rate of return, 15 to 18 percent, on the purchase of mortgage notes.

The FBI in Houston, according to court documents, believes that Dreskin might have sold other allegedly fraudulent mortgage notes to at least 30 persons in the Houston area.

A spokeswoman for advertising sales at The Post said yesterday that the newspaper asks for general business information when accepting investment ads and tries to follow up on any consumer disputes or reader complaints of false advertising.

If convicted, Dreskin could face up to a 10-year prison sentence and a $250,000 fine, according to authorities.