By the Division of Banks

COMMONWEALTH OF MASSACHUSETTS

Suffolk, SS.

COMMISSIONER OF BANKS
FOREIGN TRANSMITTAL
AGENCY LICENSING
Docket No. 2008-025

FINDINGS OF FACT AND
ORDER TO CEASE AND DESIST


In the Matter of
PAULO DEOLIVEIRA
VALDECI DEOLIVEIRA
SUSAN DEOLIVEIRA
and V & P ENTERPRISES LTD
D/B/A ARMAZEN
Somerville, Massachusetts


The Commissioner of Banks ("Commissioner") having determined that PAULO DEOLIVEIRA, VALDECI DEOLIVEIRA, SILVAN DEOLIVEIRA and V & P ENTERPRISES LTD D/B/A ARMAZEN, located at 511 Medford Street, Somerville, Massachusetts have engaged, or are engaged in, or are about to engage in, acts or practices constituting violations of Massachusetts General Laws chapter 169, and applicable regulations found at 209 CMR 44.00 et seq., hereby issues the following ORDER TO CEASE AND DESIST pursuant to General Laws chapter 169.

FINDINGS OF FACT

  1. The Division of Banks ("Division"), through the Commissioner, has jurisdiction over the licensing and regulation of persons engaged in the business of a foreign transmittal agency pursuant to Massachusetts General Laws chapter 169.
  2. Paulo DeOliveira, Valdeci DeOliveira and Silvan DeOliveira individually and collectively, are the owners/officers of V & P Enterprises LTD D/B/A Armazen (the "Corporation"), located at 511 Medford Street, Somerville, Massachusetts.
  3. On September 22, 1998, License number FT5260 had been issued by the Division to authorize Armazen to conduct foreign transmittals at the Corporation's 511 Medford Street, Somerville, Massachusetts location as an agent for Omnex Group, Inc. d/b/a Uno Remittance. On August 16, 2007, Armazen's foreign transmittal agency license number FT5260 was surrendered in accordance with Massachusetts General Laws chapter 169, section 3.
  4. Neither Paulo DeOliveira, Valdeci DeOliveira, Silvan DeOliveira nor Armazen have applied or have obtained a license from the Commissioner pursuant to General Laws chapter 169, section 3, to engage in the activity of a foreign transmittal agency at 511 Medford Street, Somerville, Massachusetts. The storefront of Armazen located at 511 Medford Street, Somerville continues to advertise the foreign transmittal agency services of Uno Remittance.
  5. The Division has reason to believe that Paulo DeOliveira, Valdeci DeOliveira, Silvan DeOliveira, and Armazen continue to engage in the activity of a foreign transmittal agency at 511 Medford Street, Somerville, Massachusetts, in violation of General Laws chapter 169, section 3.

ORDER TO CEASE AND DESIST

After taking into consideration paragraphs 2 through 5 herein, it is hereby:

ORDERED that PAULO DEOLIVEIRA, VALDECI DEOLIVEIRA, SILVAN DEOLIVEIRA and V & P ENTERPRISES LTD D/B/A ARMAZEN, shall immediately cease from engaging directly or indirectly in the business of a foreign transmittal agency at 511 Medford Street, Somerville, Massachusetts and at any other unlicensed locations in the Commonwealth without first obtaining a license from the Commissioner for such location(s) in accordance with Massachusetts General Laws chapter 169, section 3.

IT IS FURTHER ORDERED that PAULO DEOLIVEIRA, VALDECI DEOLIVEIRA, SILVAN DEOLIVEIRA and V & P ENTERPRISES LTD D/B/A ARMAZEN shall provide the Division with a complete record of all monies received and transmitted by the Corporation during the period from August 16, 2007 through the effective date of this ORDER. The records to be produced in accordance with Massachusetts General Laws chapter 169, section 11 shall include, but are not limited to, all bank account records used in the transmittal of funds for individuals, the names and addresses of all individuals who have conducted a foreign transmittal of money for the purpose of transmitting the same or equivalents thereof to foreign countries, the amount of each transmittal, the transaction numbers, and the total fees charged on each transaction.

IT IS FURTHER ORDERED that PAULO DEOLIVEIRA, VALDECI DEOLIVEIRA, SILVAN DEOLIVEIRA and V & P ENTERPRISES LTD D/B/A ARMAZEN, shall reimburse fees to all persons for whom a foreign transmittal of money was executed by the Corporation between August 16, 2007 and the effective date of this ORDER. Reimbursements shall be made to each person on a per transaction basis in an amount equal to the entire portion of the transmittal fee retained by the Corporation for such transaction. A record shall be provided to the Division of the names and addresses of all individuals who have deposited money with the Corporation for the purpose of foreign transmittal, the amount of each transmittal, the transaction numbers, the total fees charged on each transaction, the portion of the transmittal fee retained by ARMAZEN, check numbers of payments issued by the Corporation to evidence reimbursements made to consumers, and the amount reimbursed to each individual.


BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.

Dated at Boston, Massachusetts, this 13th day of October, 2008

By: Steven L. Antonakes
Commissioner of Banks