New Milford Woman Sentenced to Federal Prison for Operating Illegal Money Remitting Business
APR 30 -- Steven W. Derr, Special Agent in Charge of the Drug Enforcement Administration for New England and Nora R. Dannehy, Acting United States Attorney for the District of Connecticut, announced that MONICA TEIXEIRA, 41, of New Milford, was sentenced today by United States District Judge Janet C. Hall in Bridgeport to 12 months and one day of imprisonment, followed by two years of supervised release, for her role in a multimillion dollar illegal money remitting scheme. TEIXEIRA also was ordered to pay a fine in the amount of $2000 and perform 100 hours of community service. On October 14, 2008, TEIXEIRA pleaded guilty to one count of operating an illegal money remitting business.
According to documents filed with the Court and statements made in court, TEIXEIRA and Renata Amaral operated RM Insurance Services LLC of Danbury, an insurance company that catered to the Brazilian immigrant community. Between March 2006 and March 2008, TEIXEIRA and Amaral, through RM Insurance, also operated a money transmitting business that wire transferred cash to other states and Brazil. However, RM Insurance was not licensed under Connecticut law to operate a money transmitting business. Through this illegal business, TEIXEIRA and Amaral bypassed bank reporting requirements and allowed approximately $9.5 million to be wired.
As part of an undercover law enforcement operation, TEIXEIRA and Amaral also arranged to wire cash that was purported to be the proceeds of marijuana trafficking from a bank in Connecticut to a bank in Texas.
A money transmitting business is any person or business that receives money from a customer and then, for a fee paid by the customer, transmits that money to a recipient in a place that the customer designates, usually a foreign country.
Amaral has pleaded guilty to the same charge and awaits sentencing.
This case was investigated by the Internal Revenue Service – Criminal Investigation Division with assistance from the Drug Enforcement Administration.