Two Charged In Phony CU Scam

Register now

PIERRE, S.D. – A Maryland man and Nevada woman on Tuesday were accused of raising $370,000 from investors by promising to invest in a phony credit union involving an American Indian tribe in South Dakota.

Greg Long, 59, of Hanover, Md., and Alcinda Miller, 54, of Las Vegas, allegedly misled investors about the legitimacy of a tribal charter to operate a credit union on the Yankton Sioux Reservation, which they called Alliance CU. The two each face grand theft and forgery charges.

The state attorney general issued a cease and desist order against the two last October.

 

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER