Articles Caribbean Bank of Commerce Fake Nations Featured Fraud Investment USAApril 30, 1999

    SEC freezes assets of ‘New Utopia’

    mm
    By
    25 years ago

    Topics

    Fake Nations Fraud Investment USA

    Keywords

    Caribbean Bank of Commerce Howard Turney Lazarus Long New Utopia

    A scheme to build a new offshore tax haven called New Utopia off the coast of the Cayman Islands has collapsed following legal action by the Securities & Exchange Commission.
    A federal judge in Tulsa, Oklahoma, this month granted the SEC’s application to freeze all money raised by Lazarus Long (a.k.a. Howard Turney) for his New Utopia project through a fraudulent bond offering.