OLYMPIA, WA – The Washington State Department of Financial Institutions has reached a final agreement with money transmitter Sigue Corporation for failing to fulfill its obligations to customers during its collapse in 2024.
This agreement comes one year after financial regulatory agencies from 39 states, Puerto Rico, and the District of Columbia ordered the company to cease engaging in further money transmission activities due to its declining financial position (NMLS ID 915912). The company failed to complete multiple money orders and transmissions, and to maintain adequate net worth and permissible investments to cover outstanding liabilities ¾ both violations of Washington’s money transmission law.
From DFI:
As Sigue’s financial condition worsened, the company was unable to satisfy customer obligations, including money orders and transfers for customers in Washington and in other states.
“Safety and security of money transmission is the law in Washington State,” DFI Director Charlie Clark said. “For the nearly 500 people in our state whose transactions were not completed, this violation of law resulted in a personal financial loss. We take those losses seriously. This agreement helps make them whole.”
Though DFI sent every consumer with a balance the contact information for the company and the bond claim information, not all have responded. If you believe you are owed money by Sigue, you may contact Sigue’s claims company using the information below to get information on filing a claim.
Liberty Mutual Surety Claims
PO Box 34526
Seattle, WA 98124
HOSCL@libertymutual.com
206-473-6700
This is Sigue’s information with Liberty Mutual:
Sigue Corp. Bond Number: 017011691
If you believe Sigue owes you money please contact Liberty Mutual and file a claim according to the instructions that Liberty Mutual provides. DFI cannot act as your personal or legal representative. You may wish to seek private counsel. Please contact DFI if you have any questions about this letter.
This final agreement requires Sigue Corporation and its owner, Guillermo de la Viña, to resolve Sigue’s failure to meet its outstanding liabilities. The agreement also contains provisions relating to GroupEx Financial Corporation, a subsidiary of Sigue and a licensed money transmitter.
Under the terms of the agreement, Sigue and GroupEx’s money transmitter licenses have been surrendered. Additionally, de la Viña has agreed to refrain from any position of management, control, or employment of any money transmitter unless first approved by Washington DFI. Sigue will pay Washington DFI a penalty of $27,777.78 if it fails to comply with the terms of the order, or provide information needed to process customer bond claims.
Sigue will maintain its public website for two years, providing information to direct customers on how to file a complaint on unpaid transactions with their regulator.
