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A Thing Cleaning Up in the Check Cashing Business

Cleaning Up in the Check Cashing Business


Many people have called check cashing businesses "highway robbers". Now that term seems even more accurate.

Executives at Supermail International, Inc., one of the nation's largest check cashers, have been indicted for laundering money. The executives are alleged to have allowed employees to accept drug money and to have proposed buying Supermail stock as a way to launder money. The 67-count indictment alleges that $3.2 million in drug proceeds were laundered.

More than 300 people were arrested and 11 were indicted as a result of a two-year investigation, which culminated in a raid of the company headquarters and two other offices. Agents seized firearms, $2.3 million in cash, and a variety of drugs.