News Summary: Judge OKs MoneyGram fraud deal

News Summary: Federal judge signs off on settlement of MoneyGram fraud case, $100M victim fund

Associated Press

PAY UP: A judge in central Pennsylvania gave his approval to a settlement of fraud charges against MoneyGram International Inc. Prosecutors said the company turned a blind eye to scam artists and money launderers.

DIRTY MONEY: Prosecutors said company officials were aware that some agents were engaged in fraud but decided not to sever their relationships, and ended up profiting from the illegal acts.

MAKING CHANGE: MoneyGram lawyer David Zinn noted the company has already made changes, including the replacement of its senior management team and stronger compliance and financial intelligence efforts.

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