MoneyGram ,Farai Rwodzi & Interfin Bank perfect partners in crime – Part 1 of 30

MoneyGram ,Farai Rwodzi & Interfin Bank perfect partners in crime – Part 1 of 30
Farai Rwodzi and Interfin Bank Zimbabwe have been refusing or failing to pay me US$ 15.4 million for my 309 million Century/CFX Bank shares which were corruptly ,illegally and irregularly converted into Interfin Banking Corporation shares. Since MoneyGram International have been using my bank infrastructure illegally seized from me and incorporated into CFX/Interfin Bank Zimbabwe I have asked MoneyGram to suspend dealing with CFX/Interfin until the ownership dispute is resolved. MoneyGram have been aiding and abetting the illegal seizure of my bank by continuing to do business with CFX/ Interfin Bank giving credibility and normalcy to an illegal and corrupt act.
MoneyGram have refused to stop dealing with CFX/Interfin Bank which has forced me to do a little back ground check on MoneyGram and how they do business, I have broken down the findings into a 30 part series, this is part 1.I have also created a website to document this www.moneygramexposed.com and www.interfinbank.org .PLEASE VISIT AND SPREAD THE WORD.
MoneyGram International late last year announced that it would pay $18 million to the FTC to settle charges it allowed, facilitated and enabled wire fraud to happen between 2004 and 2008. MoneyGram's press release notes that they disagree with the FTC's view of the matter, but $18 million is a hell of a lot of money to pay if you don't think you were in the wrong. The press release from the FTC, on the other hand, provides plenty of detail illustrating MoneyGram's negligence, as well as the criminal behavior of some of its employees who were in on the frauds.

First, here's how MoneyGram delicately addresses it:

“
"While we don't agree with the FTC`s allegations regarding our fraud prevention in the past, we can agree on fraud prevention today and in the future," said Patsley. "We don`t want our customers being victimized by third-party fraud. What we are announcing today with the FTC is our commitment to enhance our already comprehensive efforts to combat fraud and ensure our customers can continue to rely on MoneyGram for safe, reliable money transfer services."

”
But check out these specific allegations from the FTC's press release, which also came out on the same day (emphasis ours):

“
The FTC charged that between 2004 and 2008, MoneyGram agents helped fraudulent telemarketers and other con artists who tricked U.S. consumers into wiring more than $84 million within the United States and to Canada � after these consumers were falsely told they had won a lottery, were hired for a secret shopper program, or were guaranteed loans. The $84 million in losses is based on consumer complaints to MoneyGram � actual consumer losses likely are much higher.

The FTC charged that MoneyGram knew that its system was being used to defraud people but did very little about it, and that in some cases its agents in Canada actually participated in these schemes. According to the FTC's complaint, MoneyGram knew, or avoided knowing, that about 131 of its more than 1,200 agents accounted for more than 95 percent of the fraud complaints it received in 2008 regarding money transfers to Canada; a similarly small number of agents was responsible for more than 96 percent of all fraud complaints to the company in 2006.

According to a recent FTC survey cited in the complaint, at least 79 percent of all MoneyGram transfers of $1,000 or more from the United States to Canada over a four-month period in 2007 were fraud-induced. The Commission's complaint further stated that based on the more than 20,600 fraud complaints MoneyGram itself received, U.S. consumers lost more than $44 million to cross-border money-transfer frauds between 2004 and 2008 alone. When combined with losses reported by U.S. consumers on money transfers within the United States, that number grows to $84 million.

The FTC's complaint alleges that MoneyGram ignored warnings from law enforcement officials and even its own employees that widespread fraud was being conducted over its network, claiming that proposals to deal with the problem were too costly and were not the company's responsibility. The company even discouraged its employees from enforcing its own fraud prevention policies or taking action against suspicious or corrupt agents. Some employees who raised concerns were disciplined or fired, the FTC charged.

MoneyGram was represented by William MacLeod, Lewis Rose and Jennifer Ngai of Kelley Drye & Warren in Washington. In the settlement, MoneyGram said it was entering the order “solely for the purpose of settlement and nothing contained herein may be taken or construed to be an admission or concession of any violation of law.”

(Vladeck -(FTC Official) at the press conference countered, “If MoneyGram felt any of the allegations were incorrect, they shouldn’t have settled the case.”).

I have given Farai Rwodzi and Interfin Bank 2 clear options
1 - Pay cash US $ 15.4 million ( 309 million shares multiplied by 5 cents per share)
2 - Or issue 309 million shares in Interfin Financial Holdings to me and my Company ENG Capital.

In typical Moneygram modus operandi Farai Rwodzi and Intefin Bank Zimbabwe have tried to pretend they do things above board despite overwhelming evidence to show otherwise .It is clear that Farai Rwodzi and Interfin Banking Corporation have found a perfect partner to do illegal deals and cover up the illegal seizure of my Bank for mutual profit. They both put up a false impression of being upright business entities when its clear they will break and all laws as long as they are not caught and held to account for their actions.

This article appears courtesy of GMRI CAPITAL – www.gmricapital.com . It is original content generated for 3MG MEDIA – www.3mgmedia.ca .

Gilbert Muponda is an Investment Banker and Founder of GMRI CAPITAL . He can be reached at; www.ZimFace.com and

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