(Washington, 05/03/11) - A District man was ordered to forfeit more than $6 million for operating an unlicensed money transmitting business, federal prosecutors said Tuesday.
Tekle Tewolde, 46, owner of Who U Wit Entertainment, Inc., was also ordered to perform 100 hours of community service and placed on three years probation.
According to prosecutors, Who U Wit was started in 2001 as a business that promoted bands and music.
But in 2008, the business began receiving money from individuals living in the United States, and transferring more than $6 million outside the country to China, United Emirates, Turkey, Egypt, India, and the Netherlands.
Those funds were ultimately transferred to entities or individuals in Ethiopia.
Source: washingtonexaminer.
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