South Dakota Authorities Flag Phony CU
PIERRE, S.D. – State financial regulators on Thursday issued a cease and desist order against what appears to be a phony credit union doing business as Denali Alliance Holdings, Credit Union Services, or Alliance CU, based in Springfield, S.D.
The state’s Department of Revenue and Regulation charged that two individuals, Alicinda Miller, also known as Cindy Miller, and Greg Long, solicited individuals from South Dakota and Iowa to invest in a credit union.
Long and Miller falsely claimed that the credit union would be chartered by the Yankton Sioux Tribe, but an investigation has revealed that no such charter has been granted, according to the state order.