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News and Issuances
Alert 1995-1
Subject: Suspicious Transactions
Date: January 5, 1995
Description: Constructive Notice and Demand

Suspicious Transactions: Constructive Notice and Demand

To: Chief Executive Officers of all National Banks; All State Banking Authorities; Chairman, Board of Governors of the Federal Reserve System; Chairman, Federal Deposit Insurance Corporation; Conference of State Bank Supervisors; Deputy Comptrollers (Districts); District Administrators; District Counsel and Examining Personnel

Information has been received that banks are receiving an instrument titled CONSTRUCTIVE NOTICE & DEMAND which purports to satisfy all debt owed the bank by the sender. Further, it appears that the originator of this instrument is:

Darrell Frech
c/o Route 1, Box 102
Jet, OK 73749

This instrument is deemed to be without financial value.

Any information which you may have concerning this matter should be brought to the attention of:

Office of the Comptroller of the Currency
Enforcement & Compliance Division
250 E Street, S.W.
Washington, D.C. 20219
Fax (202) 874-5301

Daniel P. Stipano
Director
Enforcement & Compliance Division