Mann admits to running a money scheme through his check cashing company in New Jersey

A Hudson County man admitted Tuesday to filing false transaction reports worth more than $325 million and supporting an unlicensed money transfer company, U.S. District Attorney’s Office officials announced Wednesday.

Ali Hassanein, 68, of Kearny pleaded guilty in New Jersey district court to conspiracy to cause a financial institution to file false currency transaction reports for a check cashing business he owned, officials said.

From 2019 to February 2023, Hassanein owned Galaxia International Services, a check cashing and money services company that operated in New Jersey and other states, according to authorities.

Under the provisions of the Bank Secrecy Act, Galaxia was required to file currency transaction reports for transactions exceeding $10,000. The rules also required the names of people and entities involved in the transaction to be listed, officials said.

Hassanein was accused by federal prosecutors of filing thousands of transaction reports containing material misstatements and omissions to enable a conspirator to make more than $325 million in reportable transactions in exchange for a fee.

The misrepresentations included, among other things, listing transactions that were processed at Galaxia’s East Orange location, where the company had a valid license, when in fact the transactions were processed in Jersey City or Kearny, where the company did not have a license, according to the statement the authorities.

Hassanein was also accused by federal officials of failing to disclose the name of the conspirator, who was not identified in federal court documents, and of aiding and abetting the conspirator’s operation of an unlicensed money transfer business.

Hassanein’s sentencing is scheduled for April 2, 2025.

His lawyer did not immediately respond to a request for comment.

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Matthew Enuco can be reached at [email protected]. Follow Checkmate on X