Alerts

Summary of Deferred Prosecution Agreement and FinCEN Civil Money Penalty Against Sigue Corporation and Sigue LLC

March 28, 2008
SRZ Client Memorandum

On Jan. 28, 2008, the U.S. Department of Justice (“DOJ”) and the Financial Crimes Enforcement Network (“FinCEN”) each announced that they had entered into a separate agreement with Sigue Corp., a corporation organized under the laws of Delaware, and Sigue LLC, a limited liability company organized under the laws of Nevada (hereinafter cumulatively referred to as “Sigue”), resolving allegations that Sigue failed to maintain an effective anti-money laundering (“AML”) program reasonably designed to identify and report suspicious transactions. Sigue is a San Fernando, Calif.-based licensed money service business (“MSB”) that provides money transmission services from the United States to Mexico and Latin America.