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News Summary: Judge OKs MoneyGram fraud deal

Associated Press Published: November 28, 2012
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PAY UP: A judge in central Pennsylvania gave his approval to a settlement of fraud charges against MoneyGram International Inc. Prosecutors said the company turned a blind eye to scam artists and money launderers.

DIRTY MONEY: Prosecutors said company officials were aware that some agents were engaged in fraud but decided not to sever their relationships, and ended up profiting from the illegal acts.

MAKING CHANGE: MoneyGram lawyer David Zinn noted the company has already made changes, including the replacement of its senior management team and stronger compliance and financial intelligence efforts.


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