D.C. Business Man Tekle Tewolde ordered to turn over $6.35 million

DC-money-transfer

The owner of a music promotion business was ordered to turn over $6.35 million Tuesday for operating an unlicensed money transferring business.

Tekle Tewolde, 45, is the owner of Who U Wit Entertainment. Besides turning over the $6.35 million, Tewolde, who was sentenced Tuesday, was ordered to turn over an additional $98,050 recovered during a seizure warrant and to perform 100 hours community service.DC-money-transfer

Authorities said Tewolde took cash, checks and wire transfers from people in the United States and then transferred the funds to Ethiopia and elsewhere.

An unlicensed money transmitting business transfers money without a license or doesn’t follow federal registration requirements. Authorities said Tewolde didn’t register his business.

Source: ABC7

 
US Department of Justice Press release on the sentence of Tekle Tewolde.
http://www.justice.gov/usao/dc/news/2011/jan/11-009.pdf

[gview file=”http://www.justice.gov/usao/dc/news/2011/jan/11-009.pdf”]

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