The operator of a fake credit union was about to receive approval for a business application to run an airport shuttle business in New Mexico when state authorities caught wind of his past crime.
According to a November 2012 SEC complaint filed in the U.S. District Court for the District of Colorado, from 2008 through September 2012, Stanley B. McDuffie offered fraudulent and unregistered certificates of deposit under the name Her Majesty's Credit Union based in the U.S. Virgin Islands.
Investors were bilked out of more than $500,000.
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