Temporary Order to Cease and Desist  Boston Envio De Valores, Inc.

Date:	08/31/2006
Organization:	Division of Banks
Docket Number:	2006-018
Location:	Jamaica Plain, MA

Boston Envio De Valores, Inc., Jamaica Plain, MA - Temporary Order to Cease and Desist

COMMONWEALTH OF MASSACHUSETTS

Suffolk, SS.

COMMISSIONER OF BANKS
FOREIGN TRANSMITTAL AGENCY LICENSING
Docket No. 2006-018
 

FINDINGS OF FACT AND TEMPORARY ORDER TO CEASE AND DESIST

In the Matter of

BOSTON ENVIO DE VALORES, INC.and SANTO MELO
Jamaica Plain, Massachusetts

Foreign Transmittal Agency License No. FT0938

The Commissioner of Banks ("Commissioner") having determined that SANTO MELO, JOSE GARCIA, and BOSTON ENVIO DE VALORES, INC. ("Boston Envio" or the "Corporation"), located at 146-A South Street, Jamaica Plain, Massachusetts have allegedly 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 FINDINGS OF FACT AND TEMPORARY ORDER TO CEASE AND DESIST ("TEMPORARY ORDER") pursuant to Massachusetts General Laws chapter 169, section 13(b).

FINDINGS OF FACT

1. The Division, through the Commissioner, has jurisdiction over the licensing and regulation of persons and entities engaged in the business of a foreign transmittal agency in Massachusetts pursuant to Massachusetts General Laws chapter 169, section 7.

2. Boston Envio is, and at all relevant times, has been a corporation doing business in the Commonwealth of Massachusetts. Boston Envio is licensed by the Commissioner as a foreign transmittal agency as required by Massachusetts General Laws chapter 169.

3. The Commissioner issued Boston Envio's initial license to engage in the business of a foreign transmittal agency at 146-A South Street, Jamaica Plain, Massachusetts on December 14, 1995, according to records maintained on file with the Division.

4. Santo Melo is, and during all relevant times, has been the President, Treasurer, Director and one-third owner of Boston Envio.

5. Marina Melo is, and during all relevant times, has been the Secretary, Director, and one-third owner of Boston Envio.

6. Ylen M. de Rodriguez holds, and during all relevant times, has held a one-third ownership interest in Boston Envio.

7. Upon information and belief, Jose Garcia is, and during all relevant times, has been an employee of Boston Envio.

8. On August 17, 2006, a federal Grand Jury impaneled in the United States District Court, District of Massachusetts, returned a criminal indictment (the "Indictment") against Santo Melo, Jose Garcia and two other individuals.

9. On August 31, 2006 charges were entered on Santo Melo, Jose Garcia and others in the United States District Court, District of Massachusetts.

10. The charges set forth in the Indictment allege, in part, that Santo Melo conspired to violate money laundering provisions of the Bank Secrecy Act, 18 U.S.C. § 1956(h)

11. The charges set forth in the Indictment allege, in part, that Santo Melo violated money laundering provisions of the Bank Secrecy Act, 18 U.S.C. § 1956(a)(3).

12. The charges set forth in the Indictment allege, in part, that Jose Garcia failed to file currency transaction reports, in violation of 31 U.S.C. § 5324(a)(1) and (d).

13. The charges set forth in the Indictment allege, in part, that Santo Melo committed theft of government property, in violation of 18 U.S.C. § 641.

CONCLUSIONS OF LAW

14. Based upon the information contained in paragraphs 1 through 13, the charges set forth in the indictment referenced in Section 8 of this Temporary Order are related to the licensed activities conducted by BOSTON ENVIO, SANTO MELO, and JOSE GARCIA under the Corporation's foreign transmittal agency license number FT0938.

15. Based upon the information contained in paragraphs 1 through 13, the Commissioner has determined that:

16. BOSTON ENVIO, SANTO MELO, and JOSE GARCIA have failed to demonstrate the character, reputation, integrity, and general fitness that would warrant the belief that the business has been, is, or will be operated honestly, fairly, soundly and efficiently in the public interest in accordance with the standards governing the licensing and conduct of a foreign transmittal agency including, but not limited to, the provisions of Massachusetts General Laws chapter 169, section 6, and the Division's regulations at 209 CMR 44.00 et seq.; and

17. The public interest will be irreparably harmed by delay in issuing an ORDER TO CEASE AND DESIST against BOSTON ENVIO, SANTO MELO, and JOSE GARCIA.

18. Based upon the information contained in paragraphs 1 through 13, had the facts and conditions found therein existed at the time of Boston Envio's original foreign transmittal agency license application, the Commissioner would have been warranted in refusing to issue such license. Further, the facts and conditions set forth in paragraphs 1 through 10, if finally determined, would present sufficient grounds for the revocation of Boston Envio's foreign transmittal agency license, number FT0938, pursuant to Massachusetts General Laws chapter 169, section 12 and the Division's regulation at 209 CMR 44.04(2)(b)(1).

ORDER TO CEASE AND DESIST

After taking into consideration the FINDINGS OF FACT and CONCLUSIONS OF LAW stated herein, it is hereby:

19. ORDERED that SANTO MELO, JOSE GARCIA and BOSTON ENVIO, and any and all employees, independent contractors, or agents operating on behalf of BOSTON ENVIO, and their successors or assigns, shall immediately cease and thereafter desist from engaging in the activities of a foreign transmittal agency, as defined under Massachusetts General Laws chapter 169, section 6, not otherwise expressly permitted by the terms of this TEMPORARY ORDER. Therefore, BOSTON ENVIO, SANTO MELO, and JOSE GARCIA are ordered to immediately cease accepting or receiving any deposits of money from Massachusetts consumers for the purpose of transmitting the same, or equivalents thereof, to a foreign location.

20. IT IS FURTHER ORDERED that BOSTON ENVIO shall immediately effect the transmittal of any amounts deposited by Massachusetts consumers and held by Boston Envio as of the effective date of this TEMPORARY ORDER in accordance with the standards set forth in Massachusetts General Laws chapter 169, section 6, and the Division's regulations at 209 CMR 44.00 et seq. Such transmissions shall be completed with no loss to the consumer.

21. IT IS FURTHER ORDERED that this TEMPORARY ORDER shall become effective immediately and shall remain in effect unless set aside, limited, or suspended by the Commissioner or upon court order after review under Massachusetts General Laws chapter 30A.

22. IT IS FURTHER ORDERED that a hearing will be scheduled on this matter to determine whether or not such TEMPORARY ORDER shall become permanent and final only upon receipt of a written request for such a hearing from BOSTON ENVIO, SANTO MELO, and JOSE GARCIA within twenty (20) days of the effective date of this TEMPORARY ORDER. If no hearing is requested within this twenty (20) day period, this TEMPORARY ORDER shall become permanent and final until it is modified or vacated by the Commissioner.

 

By ORDER AND direction of the Commissioner of Banks.

Dated at Boston, Massachusetts, this 31st day of August 2006.

By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts