Western Union Co. disclosed Tuesday that it was a target in a federal investigation into alleged money laundering.
The Englewood, Colo.-based money transmittersaid in a securities filingthat it was served with a subpoena on March 20 by the U.S. Attorney’s Office for the Central District of California seeking documents relating to Shen Zhou International, a former agent based in Monterey Park, Calif.
Concurrent with the subpoena, Western Union said in the filing, the government notified the company it is a target “of an ongoing investigation into structuring and money laundering.”
The company said it is cooperating with the government in the case.
Detailed news link: here
Western Union filing mentioning the investigation: here