New Utopia
Lazurus Long (also known as Howard Turney) was, according to the U.S. Securities and Exchange Commission (US SEC), responsible for an investment scam surrounding a fake new country called New Utopia.[1] The US SEC found that Long had raised US$24,000 from the sales of securities in the fraudulent enterprise.[1] In an article about fake nations, Quatloos.com called "New Utopia" a "fake nation scam".[2] The micronation was also briefly mentioned as a scam in a Business Week e.biz online article[3] and in a Wired News piece;[4] the latter noted, however, that "Turney... firmly maintains his intention to build the archipelago paradise once he raises enough cash".
The new "country" was purportedly to have been constructed at the Misteriosa Bank.[citation needed]
References
- ^ a b US SEC ruling
- ^ "EXHIBIT: Fake Nations", Quatloos.com. Retrieved 8 May 2007.
- ^ McNamee, Mike, "Invest in Freedonia!", Business Week e.biz, 11 December 2000. Retrieved 8 May 2007.
- ^ Blumberg , Alex, "It's Good to Be King", Wired 8.03, March 2000. Retrieved 8 May 2007
External links
