Skip to main content
Menu Icon

InfoBytes Blog

Financial Services Law Insights and Observations

Georgia Resident Pleads Guilty to Charges of Operating Unlicensed Money Transmitting Business

FinCEN DOJ Enforcement Money Service / Money Transmitters

Financial Crimes

On October 13, the DOJ announced that a Columbus, Georgia resident pleaded guilty to one count of operating an unlicensed money transmitting business. According to the DOJ, between February 2013 and March 2014, the individual unlawfully owned, operated, and managed multiple money transmitting companies throughout the Columbus area, offering check-cashing services. The individual allegedly knew that he was required to register his company with FinCEN and with the state of Georgia, but failed to do so. Scheduled to face sentencing in January 2016, the individual faces a statutory maximum sentencing of five years and has agreed to a forfeiture order of more than $1,300,000.