August 28, 2007
Board alerts public to instances of illegitimate checks drawn on TUC Private Currency Office and other questionable practices by The United Cities Corp.
For immediate release
The Federal Reserve Board on Tuesday alerted the public to instances of illegitimate checks being drawn on an entity named TUC Private Currency Office and other questionable practices by The United Cities Corp., Miami, Florida. Reports of these practices have surfaced in Florida.
In addition to issuing illegitimate checks, The United Cities Corp. claims to have created a currency called “The United States Private Dollar.” On its website, The United Cities Corp. says that it received confirmation of the legitimacy of “The United States Private Dollar” from the Federal Reserve System. This claim is untrue. The Federal Reserve does not endorse any private currency.
Documents that appear to be checks or drafts drawn on the TUC Private Currency Office (containing an address of 3501 West Vine Street, Suite 315, Kissimmee, FL 34741 and an invalid ABA routing number of 079457847) have been issued and presented for payment at a number of banks. These documents are not legitimate checks or negotiable instruments. They should not be presented or accepted for payment or deposit. Anyone who has acquired these checks should not attempt to deposit or use them, but should instead contact their local law enforcement office or United States Secret Service office.
A related alert has been issued by the Office of the Comptroller of the Currency and is available at http://www.occ.gov/.