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.
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