Central Valley Business Times (Calif., USA)
SACRAMENTO
• Sent $1 Million to Cambodia
• Did not comply with licensing requirements
Serey Van, 32 and Thanh Van, 42, both of Stockton, have been sentenced to federal prison in connection with a large-scale illegal money remitter business, prosecutors say.
Under federal law, it is illegal to operate a business that engages in transferring funds by wire to locations in this country or locations abroad, if the business is operated without an appropriate California state license or the business fails to comply with federal registration requirements.
The Vans operated money transmitting businesses known as March Lane Pure Water and Best Money Express in Stockton that transmitted customer funds from Stockton to Cambodia but neither business had the appropriate license and neither had registered with the federal government in compliance with federal money transmitting business registration requirements, prosecutors say.
The government says the businesses transmitted over $1 million by wire for customers from the United States to Cambodia.
Under federal law, it is illegal to operate a business that engages in transferring funds by wire to locations in this country or locations abroad, if the business is operated without an appropriate California state license or the business fails to comply with federal registration requirements.
The Vans operated money transmitting businesses known as March Lane Pure Water and Best Money Express in Stockton that transmitted customer funds from Stockton to Cambodia but neither business had the appropriate license and neither had registered with the federal government in compliance with federal money transmitting business registration requirements, prosecutors say.
The government says the businesses transmitted over $1 million by wire for customers from the United States to Cambodia.
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