Regulatory Alerts2024-10-16
Added · Updated
Pennsylvania Department of Banking and Securities Cease and Desist Order Against Sigue Corporation and Guillermo De La Viña
The Pennsylvania Department of Banking and Securities issued a Cease and Desist Order against Sigue Corporation and its CEO Guillermo De La Viña for violating the Money Transmitter Act by failing to satisfy outstanding consumer liabilities and maintaining inadequate net worth. The Order immediately revokes Sigue's money transmitter license and prohibits De La Viña from working in any capacity related to regulated activities. The entities are required to pay substantial fines totaling over six million dollars and must refund consumers for fees and unfunded transactions within thirty days.
Topics
Share