SAN FRANCISCO - Five nationals from Myanmar, formerly Burma, have been indicted for running an illegal money transmitter business in Daly City that allegedly wired more than $6.3 million to recipients in a host of Asian nations, including the People's Republic of China.

The suspects are named in a 52-count indictment charging them with conspiracy, financial structuring, and operating an unlicensed money transmittal business. The indictment is the result of a year-long, joint investigation involving U.S. Immigration and Customs Enforcement (ICE), the Internal Revenue Service-Criminal Investigation, and the U.S. Postal Inspection Service.

"Unlicensed money transmitters pose a very real threat to national security because any criminal or terrorist can use them to wire millions of dollars anywhere in the world with no questions asked," said Charles DeMore, special agent in charge of the ICE office of investigations in San Francisco. "ICE's goal is to identify, disrupt and ultimately dismantle these underground financing and transmittal operations."

Those charged in the case are: Shun An Chee, Myint Myint Lwin, Pamela Yee, Ma Myo Myo Thein, Khin Htwe Maung (a.k.a. Yuan Ma Lim a.k.a. Khin Htwe). Chee, Lwin, and Thein were arrested in the Bay Area. Yee was taken into custody in New York. The fifth defendant, Maung, remains at large.

According to the indictment, between September 2001 and January 2006, the defendants operated a money transmittal business without the required license. Through the business, the defendants received funds and wired more than $6.3 million from their bank accounts to recipients in Asia, including the People's Republic of China, Bangkok, Thailand, and Hong Kong.

Lwin and Chee are scheduled to make their initial appearance before a U.S. Magistrate tomorrow. The maximum penalty for each count of operating an unlicensed money transmittal business in is five years in prison and a fine of $250,000.

The charges filed against the five defendants are just the latest enforcement action in ICE's nationwide crackdown on unlicensed money transmittal businesses. The USA Patriot Act of 2001 enhanced ICE's ability to combat the international movement of funds through unlicensed money services businesses and so-called "hawalas" by enhancing the 18 USC 1960 statute. All these businesses are now required to be registered with the federal government and licensed by state authorities.

-- ICE --