Tuesday, January 15, 2008
There have been reports of a forthcoming settlement with California's Sigue Corp., a money-services business. The terms of any forthcoming deferred prosecution agreement, however, remain to be seen. (Damian Paletta of the Wall Street Jrl has the amount and some terms of the alleged agreement see here). It would seem unlikely that the agreement would include a waiver of attorney-client privilege, as this government practice has recently been extremely controversial. (see here and here)
Also to be seen would be any possible aftermath resulting from the government and a money services business reaching an agreement. Many deferred prosecutions agreements include company cooperation which can serve as a prelude to future criminal prosecutions against individuals.
See also PR Newswire here.
Read About Sigue Corporation's Anti-Money Laundering Compliance Efforts here