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Latest Legal News from the Criminal Courts in Houston, Texas
April 1, 2007
LICENSED MONEY TRANSMITTER PLEADS GUILTY TO FAILING TO OBTAIN AND MAINTAIN RECORDS
(HOUSTON) -- Ramman A. Moton, 44, a licensed money transmitter, was convicted today of failing to obtain and maintain records of money transmitted to Pakistan, United States Attorney Don Degabrielle announced today.
Federal law required nonbank financial institutions, such as licensed money transmitters, to obtain and maintain records for each remittance or transmittal of funds in the amount of $3,000 or more. The licensed transmitter is required to obtain and maintain the name and address of the transmitter; the amount and date of the transmittal order; the identity of the recipient; and the name of the recipient’s financial institution.
Ramman A. Moton (hereafter “Moton”) of Houston, TX was the owner and operator of RM Global, Inc., doing business under an assumed name certificate as International Money Transfer at 5636 Hillcroft, Houston, Texas 77036. International Money Transfer was a domestic nonbank financial institution subject to the record keeping requirements described above, and Moton understood these requirements.
At a hearing on Thursday, March 29, 2007, Moton admitted that on May 26, 2004, at International Money Transfer in Houston, Texas, he received $14,000 dollars in United States currency from a non-established customer which was to be delivered to a designated recipient in Pakistan. Moton accepted the funds and arranged for the transmittal of the funds to the designated recipient in Pakistan, and knowingly failed to obtain or retain the information required by law. On June 5, 2004, the $14,000 dollars was received in the form of a check from a Pakistani bank by the designated recipient in Kurachi, Pakistan, less transaction and bank fees. In addition to pleading guilty, Moton has agreed not to contest the government’s action to forfeit more the $107,000 the government contends constitutes money Moton transmitted without regard to the record keeping requirements in six separate transactions occurring between July 2003 and March 2005.
Moton faces a maximum statutory sentence of five years imprisonment and a $250,000 fine. United States District Judge David Hittner has set sentencing for June 26, 2007.
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