The Minnesota Department of Commerce has announced a multi-state settlement with the money transmission company Sigue Corporation, which collapsed in 2024. The company failed to complete money orders and transmissions, leading to financial problems and violations of Minnesota’s Money Transmitter Act. As part of the agreement, Sigue Corp. and its owner, Guillermo de la Viña, must resolve outstanding liabilities, surrender money transmitter licenses, and refrain from working in the industry without approval. The settlement involves 39 states, Puerto Rico, and the District of Columbia, and is supported by industry associations. If Sigue fails to comply with the agreement, it will face a penalty. Commerce Assistant Commissioner Jacqueline Olson emphasized the importance of state laws regulating money transmitters and the value of multistate partnerships in protecting consumers. Minnesotans affected by Sigue’s collapse can contact the Minnesota Department of Commerce for assistance.
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