MoneyGram Forfeits $100M Over Agents' Consumer Fraud Plots

Law360, New York (November 9, 2012, 12:31 PM EST) -- Payment services company MoneyGram International Inc. has agreed to give up $100 million to resolve charges that its agents ran international mass marketing and consumer fraud schemes out of Pennsylvania, the company and the U.S. Department of Justice announced Friday.

The $100 million will be used to compensate tens of thousands of victims who were tricked by MoneyGram agents into sending money through them or through MoneyGram outlets, the DOJ said.

Under the schemes committed by some 27 agents spanning from New York to Canada, the...
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