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Two men facing prison for illegal cash transfers
Posted on Sat, May. 27, 2006 Philadelphia Enquirer
One man pleaded guilty this week to charges of operating a business in Philadelphia that illegally transmitted money out of the country, federal
authorities said yesterday.
Another man was sentenced this week on similar charges.
Seide Venord was sentenced Wednesday to 30 months in federal prison after being convicted in January of laundering more than $267,000 in
what he believed was drug money through his business to the Dominican Republic.
Venord ran Venord Multiple Services at 4922 N. Fifth St. and was a legitimate transmitter for Western Union, Vigo Remittance and Girosol Corp.
U.S. Immigration and Customs Enforcement, which conducted the investigation, used a "cooperating witness" to get Venord to launder what he
thought was drug money. Venord permitted the use of false identification and fictitious names to disguise the sender's true identity.
"These types of businesses can be and have been exploited by criminal organizations and even terrorist groups to move funds virtually anywhere
in the world with no questions asked," said John Kelleghan, acting special agent in charge.
On Tuesday, Sheikh Mohammed Khurshan pleaded guilty in federal court to unlicensed money transmittal, attempted loan fraud, and a related
Khurshan owned Medina Tax & Travel at 4302 Market St. and was the appointed accountant of the Majid Al-Jamia mosque at 4228 Walnut St.
Khurshan, a naturalized U.S. citizen from Bangladesh, illegally transmitted more than $900,000, mostly to a company in Singapore, authorities
said. He earned from 1 percent to 3 percent in commissions on the transactions.
He is scheduled to be sentenced in August.
- Inquirer staff