MH Pillars, Ltd., doing business as Payza, has been indicted by a federal grand jury in the District of Columbia on charges alleging they operated an Internet-based unlicensed money service business that processed more than $250 million in transactions.
A money transmitting business is one that transfers funds on behalf of the public by any and all means, including electronic transfers within the United States or to locations abroad. In most states or jurisdictions, operating a money transmitting businesses without a license was punishable as a misdemeanor or a felony. The failure to obtain a license in such jurisdictions is a federal felony offense. Under District of Columbia law, money transmission businesses must obtain a license from the Superintendent of the Office of Banking and Financial Institutions of the District of Columbia, and the failure to do so was a felony.
The defendant is accused of operating a money transmitting business that operated without the necessary state licenses and knowingly transmitting funds that were derived from illegal activity from in or about March 2012 until the present.
An indictment is merely a formal charge that a defendant has committed a violation of criminal laws and is not evidence of guilt. Every defendant is presumed innocent until, and unless, proven guilty.
If you have questions or concerns about your Payza account, or if you believe you are a victim, please send an email to USADC.OBOPAYZA@usdoj.gov. Please include your name, email address, and contact information in your message. Someone will respond to your email within 5 business days. While we cannot act as your attorney or provide you with legal advice, you may seek the advice of an attorney with respect to this or other related legal matters.
Attachment: Filed Indictment