April 23, 2009

Unlicensed money transmitters admit to violating U.S. currency laws

PHILADELPHIA - Youra Orn, 61, and Mony Serey, 35, both of Philadelphia, pleaded guilty on April 21 to conspiracy and to transporting U.S. currency without filing the proper paperwork. The charges resulted from an investigation by U.S. Immigration and Customs Enforcement (ICE). The defendants admitted they failed to prepare or file a report of the international transportation of currency with U.S. Customs and Border Protection.

The indictment charged Serey with boarding a plane for Cambodia with approximately $271,528. Orn and Serey accepted cash from customers to transfer the cash to Phnom Penh, Cambodia, via international wire or physical transport, without obtaining a license to operate a money transmitting business. They also failed to register as money transmitters with the U.S. Treasury's Financial Crime Enforcement Network (FinCEN) as required by federal law.

The defendants face a maximum possible sentence of 10 years in prison, a fine of up to $500,000, a $500 special assessment and three years of supervised release when sentenced on July 23, 2009. The case is being prosecuted by Assistant U.S. Attorneys Floyd J. Miller and David J. Caputo.

-- ICE --