WASHINGTON — The Federal Reserve Board issued a notice last week regarding illegitimate checks being drawn on an entity named TUC Private Currency Office and other questionable practices by The United Cities Corp., Miami, Fla.
Reports of the instances 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." It claims Federal Reserve approval on its Web site, but the Fed stated that claim is untrue and it does not endorse any private currency.
Documents that appear to be checks or drafts drawn on the TUC Private Currency Office with a Kissimmee, Fla. address and an invalid ABA routing number of 079457847 have been issued and presented for payment. "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," the Fed said in a statement.
A related alert has been issued by the Office of the Comptroller of the Currency as well.
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