Ex-MoneyGram Compliance Head Sued in First-of-Kind Case
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Thomas Haider, the ex-compliance chief at MoneyGram International Inc., was sued for failing to ensure the cash-transfer firm had an effective anti-money-laundering program in what may be an unprecedented lawsuit by regulators.
Haider worked as chief compliance officer at Dallas-based MoneyGram until 2008. In its complaint today in Manhattan federal court, the Treasury Department said he failed to comply with the U.S. Bank Secrecy Act. It’s seeking to recover $1 million and to bar Haider from “participating” in the affairs of any financial institution.