Customers who have purchased or are holding a money order from Sigue Corporation or have a failed money transmission made by Sigue Corporation are being advised to file a claim by Pennsylvania regulators.
This week, the Pennsylvania Department of Banking and Securities asked residents who might be out money to file a claim with the department.
Anyone with questions on how to file a claim, contact the Pennsylvania Department of Banking and Securities’ Consumer Services Office at 1-800-PA-BANKS (1-800-722-2657).
Court records from summer 2024 show that Sigue Corporation had $123,823.17 owed to Pennsylvania residents.
“Sigue has experienced significant deterioration in its financial condition over the past several months resulting in Sigue representing it has ceased operations, including accepting no new money transmission obligations as of month end January 2024,” a court document filed by state regulators read.
In March 2024, Pennsylvania regulators and financial regulatory agencies from 38 states, Puerto Rico, and Washington D.C. were granted an order to get Sigue Corporation to cease engaging in any further money transmission activities.
Pennsylvania officials said they found the California-based company violated the Money Transmitter Act.
A court document from October 2024 show that the state has a claim for Sigue Corporation’s surety bond.
The state regulators said the claim “results in an efficient claims process for impacted Pennsylvania consumers.”
In court papers, state officials said there were hundreds of unfunded transactions and the company has been ordered to pay the Pennsylvania Department of Banking more than $5.9 million in fines.
Advertisement
12 Days of Canna Cheer
