Home > News > Mansef, U.S. in Settlement Talks Over $6.4M in Seized Funds • Bookmark   • Newsletters   • Register Search Options

NEWS STORY

Mansef, U.S. in Settlement Talks Over $6.4M in Seized Funds

Mansef, U.S. in Settlement Talks Over $6.4M in Seized Funds
Get XBIZ News
Nov 30, 2010 12:00 PM PST    Text size: 
ATLANTA — Federal authorities say they are actively engaged in settlement talks with Mansef Inc. and its Premium Services Inc. division over the seizure of $6.4 million seized by the Secret Service.

Mary Kruger, an assistant U.S. attorney in Atlanta, said that both parties are seeking a 30-day extension to come up with terms of a final resolution, "but as of today’s date have not yet reached the terms of a final resolution."

Kruger has asked for an extension of discovery period that would run through much of December.

"An extension of the discovery period will allow the parties to complete settlement discussions without incurring additional costs," Kruger said in a motion to the court. "Additionally, the parties respectfully request that the time to file motions for summary judgment be extended until 30 days after the end of the discovery period, to and including Jan. 28."

Mansef's fight for seized funds began late last year after it set up Atlanta-based Premium Services to facilitate payments from its third-party credit card processors into the accounts and to allow the company to remit funds out of two checking accounts to its U.S. vendors.

The Secret Service claims in court documents that Premium Services was not registered with the federal Treasury Department nor with the Georgia Department of Banking and Finance as a money-transmitting business.

Federal authorities noted in court documents that for three months last year Premium Services received $9.4 million in wire transfers from various sources and that much of the funds originated overseas in countries such as Israel, considered by law enforcement to be at high risk for money-laundering activity.

U.S. authorities claim that the funds in two accounts are forfeitable under 18 U.S.C. § 981 (a)(1)(A) as property involved in or traceable to a transaction in violation of 18 U.S.C. § 1960, which prohibit’s unlicensed money-transmitting businesses.

Mansef and Premium Services deny they are in that line of business. Mansef earlier this year was sold to new owners, which spun off the company as Manwin Inc.

More ways to get XBIZ News:  RSS Feeds  |  E-Newsletters  |  Desktop Widget  |  Mobile
Looking for porn star news and behind-the-scene videos? Check out XFANZ.com !

LEGAL PERSPECTIVES

Data Privacy Is Tightening Up in the E.U.

Have you begun preparing for GDPR? If you are like most, you haven’t even heard of GDPR, but also if you are like most, it is going to affect your business, starting May 25, 2018. The GDPR, or General... More »

Preventing Legal Problems Before They Start

Dentists typically recommend that a person’s teeth be cleaned every six months and that oral X-rays be taken at least once every year. Internists recommend that a person receive a physical examination... More »

Could Adult Content Be Banned?

Earlier this month, I met with the Free Speech Coalition’s board of directors for our annual review. Despite the headwinds our industry faces, politically and economically, we are, as an organization,... More »
XBIZ NEWSLETTERS
Stay informed of the latest industry developments. Get XBIZ newsletters delivered to your inbox. Subscribe today!
Enter email address:

* To manage existing subscriptions click here.






POPULAR PRODUCTS & SERVICES
Submit your press release to
multiple news outlets with 1 click.
Subscribe to RSS news feeds or
add free content to your website.
Access XBIZ news and articles
with your mobile device.
Subscribe to XBIZ Premiere magazine, the industry's leading adult retail trade publications, delivering the most timely and comprehensive business news and information to producers and retailers of adult products.

UPCOMING EVENTS

XBIZ Retreat

May 30 - Jun 03
Miami, Florida

XBIZ Miami 2017

May 30 - Jun 02
Miami, Florida

XShow 18+ 2017

Jun 01 - Jun 03
Moscow, Russia

Cam Summit

Jun 02 - Jun 04
Lloret de Mar, Spain
Everyday thousands of business professionals browse XBIZ's industry directory for quality products and services. Not listed yet? Your company could be losing potential new business. Submit your company today!
Use XBIZ RSS feeds to stay informed of the latest industry developments or as a content syndication tool for your website!