Principality of New Utopia Micronation Leadership Prince Lazarus I (Lazarus Long) Organisational structure Constitutional monarchy Language English Purported currency New Utopian Crown (UTC)
The project was publicised by various media outlets in Europe and the United States. In an article about fake nations, Quatloos.com called "New Utopia" a "fake nation scam". The micronation was also briefly mentioned as a scam in a Business Week e.biz online article and in a Wired News piece; the latter noted, however, that "Turney... firmly maintains his intention to build the archipelago paradise once he raises enough cash".
Long operated a Web site to promote the so-called micronation tax haven, which he claimed was to be constructed on concrete platforms at the Misteriosa Bank 115 miles west of the Cayman Islands. He offered US$350 million in unregistered bonds and also promoted a currency purchase program by promising returns of up to 200 percent.
The U.S. Securities and Exchange Commission (US SEC) termed New Utopia a "fraudulent nationwide Internet scheme", finding that Long had raised US$24,000 from the sales of securities in the enterprise. The SEC's case against Long (SEC v. Lazarus Long) ended with a settlement in 2000, which stipulated that Long cease the sale of the bonds and other "material misrepresentations" regarding the project and repay the US$24,000 he had collected thus far. The latter condition was subsequently waived due to Long's inability to pay. Long continues to maintain that the project is real and offers 'charter citizenship' to individuals who "contribute" at least US$10,000 (recently increased from US$1,500).
New Utopia's "UK Pro Consul" was interviewed by Danny Wallace for his 2005 BBC2 series about micronations, How to Start Your Own Country. in which he claimed the country's sovereignty had been recognised by the 'Principality of Thaumaturgy'.
- ^ a b c "EXHIBIT: Fake Nations", Quatloos.com. Retrieved 30 May 2007.
- ^ a b c US SEC ruling
- ^ 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
- ^ a b McMillan, Alex Frew (2000-04-25). "Beware of Net stock scams". CNN Money. http://money.cnn.com/2000/04/25/investing/q_stockscam/. Retrieved 2007-05-09.
- ^ Perlman, Jay (2000-02-23). "Securities Fraud: Bogus Offerings". The Motley Fool. http://www.fool.com/specials/2000/sp000223fraud2.htm. Retrieved 2007-05-09.
- ^ a b Reagan, Brad (2002-01-14). "Strange -- but Not True". The Wall Street Journal. http://online.wsj.com/article/SB1011814966963452360.html. Retrieved 2007-05-09.
- ^ "Citizenship & Nationality". Principality of New Utopia. United Earth Group of Companies. http://www.newutopia.org/UK%20PNU%20Site%20Page%2010%20Citizen%20Page.htm. Retrieved 2007-05-09.
List of micronations
Aerican Empire · Aeterna Lucina · Independent State of Aramoana · Atlantium · Avram · Akhzivland · British West Florida · BjornSocialist Republic · Celestia · Christiania · Conch Republic · Copeman Empire · Coral Sea Islands · Elleore · EnenKio · Forvik · Frestonia · Global Country of World Peace · Hajdučka Republika · Hay-on-Wye · Humanity · Hutt River · Kugelmugel · Ladonia · Lagoan Isles · L'Anse-Saint-Jean · Llanrwst · Kingdom of Lovely · Lundy · Marlborough · Melchizedek · Minerva · Molossia · Morac-Songhrati-Meads · Neue Slowenische Kunst · New Utopia · Northern Forest Archipelago · Nova Roma · Other World Kingdom · Perloja · Peščenica · Rainbow Creek · Redonda · Rose Island · Saugeais · Sealand · Seborga · Talossa · Užupis · Valtio · Vikesland · Wanstonia · Waveland · Wendland · Westarctica · Whangamomona · Wirtland
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