SIGUE CORPORATION AND SIGUE LLC ENTER INTO DEFERRED PROSECUTION AGREEMENT AND FORFEIT $15 MILLION TO RESOLVE BANK SECRECY ACT VIOLATIONS

WASHINGTON – Assistant Attorney General Alice S. Fisher of the Criminal Division, joined by U.S. Attorney Catherine Hanaway, Eastern District of Missouri; Michele Leonhart, Acting Administrator, U.S. Drug Enforcement Administration (DEA) and Eileen C. Mayer, Chief, Internal Revenue Service (IRS) - Criminal Investigation, announced today that Sigue Corporation and Sigue, LLC (“Sigue”), San Fernando, California-based money service businesses, entered into a deferred prosecution agreement on charges of failing to maintain an effective anti-money laundering program and will forfeit $15 million to the U.S. government.

A criminal information filed today at the U.S. District Court for the Eastern District of Missouri charges Sigue with one count of failing to maintain an effective anti-money laundering program.  Sigue waived indictment, agreed to the filing of the information, and accepted responsibility for its conduct as described in a factual statement accompanying the information.  The company will pay $15 million to the United States , representing funds that are subject to forfeiture as a result of the criminal charge, and has agreed to commit an additional $9.7 million to improving its anti-money laundering program.  In light of Sigue’s remedial actions to date and its willingness to accept responsibility for its anti-money laundering failures, the government will recommend the dismissal of the charge in 12 months, provided the company fully implements the significant anti-money laundering and Bank Secrecy Act measures required by the agreement, and complies in all other respects with the terms of the agreement.

“When companies like Sigue comply with anti-money laundering laws and employ strong oversight, they can play a pivotal role in stemming illicit money laundering activity,” said Assistant Attorney General Alice S. Fisher, Criminal Division.  “Unfortunately, when they are not compliant, the opposite is true and criminals benefit.  While we are pleased that Sigue has accepted responsibility in this case, their conduct was serious and the penalty is both appropriate and necessary.”

“This agreement is the result of years of tremendous work by Assistant U.S. Attorneys and agents in the Eastern District of Missouri and attorneys from the Criminal Division,” said U.S. Attorney Catherine Hanaway.