Court Approves MoneyGram DPA

Posted On Friday, November 30, 2012

On Wednesday, Judge Christopher Conner of the Middle District of Pennsylvania approved the deferred prosecution agreement between federal prosecutors and MoneyGram International, Inc., a global payment services company based out of Dallas, Texas.  As part of the seventeen page agreement, which was previously discussed in a November 9th White-Collared post, MoneyGram agreed to forfeit $100 million to be used towards establishing a victim compensation fund.  To-date, MoneyGram has paid $65 million, with the remaining $35 million due in early February.  MoneyGram also expressly acknowledged its responsibility for the acts of its officers, directors, and employees, and agreed to retain an independent corporate compliance officer for the five years in which the agreement is in effect. 

The complete deferred prosecution agreement can be found here.