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News Summary: Judge OKs MoneyGram fraud deal

Updated at: 11/28/2012 2:05 PM
By The Associated Press

PAY UP: A judge in central Pennsylvania gave his approval to a settlement of fraud charges against MoneyGram International Inc. Prosecutors said the company turned a blind eye to scam artists and money launderers.

DIRTY MONEY: Prosecutors said company officials were aware that some agents were engaged in fraud but decided not to sever their relationships, and ended up profiting from the illegal acts.

MAKING CHANGE: MoneyGram lawyer David Zinn noted the company has already made changes, including the replacement of its senior management team and stronger compliance and financial intelligence efforts.

(Copyright 2012 by The Associated Press. All Rights Reserved.)