|Subject:||Unauthorized Banking Entities & Worthless Finan.Instruments|
|Date of Memorandum:||10/04/1996|
|Expiration Date:|| |
|Signed By:||William L. Robertson for Smith, Roland|
|FCA Contact Person:||Holland, Tom|
|List of Attachments:||Four OCC Alerts|
October 4, 1996
To: The Chief Executive Officer
All Farm Credit System Institutions
From: Roland E. Smith, Director William L.Robertson for
Office of Examination
Subject: Informational Memorandum Advising of Unauthorized Banking Entities and Worthless Financial Instruments
The Farm Credit Administration (FCA) is distributing copies of four recent OCC Alerts issued by the Office of the Comptroller of the Currency. OCC Alerts 96-24 and 96-31 identify entities that may be operating unauthorized banking businesses. OCC Alert 96-29 warns that banks have received an instrument titled Certified Collateral Assignment. The instruments indicate “Collateral Assignment of Lien, Treasurer and Comptroller of the Currency Co-Assignees." The instruments are drawn by Cornerstone Trust, Int’l. - Neville D. Coppin and Charles C. Miller, trustees, and are without financial value. OCC Alert 96-30 warns that banks have received an instrument titled Certified Bank Draft purportedly payable “through Postmaster of the United States of America on the United States Treasurer for Special Collection and Payment.” These instruments are drawn by Financial Independence Trust, V. Varjabedian, Trustee, and Linda K. Beatus, Trustee, and are also without financial value. OCC Alerts 96-29 and 96-30 include copies of the described instruments to help in identifying them.
The OCC Alerts include contact information for reporting related suspicious activity. They complement similar OCC Alerts and other information previously distributed by the FCA to Farm Credit System institutions and should be retained for reference should your institution receive information related to the described instruments or the unauthorized banking entities.
If you have questions regarding this document or similar previous documents, you may call Jerry Erickson in the Office of Examination at (703) 883-4483.