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The Connecticut Department of Banking suspended Century Union's license to transmit money in October, alleging that it had failed to transmit money or monetary value received from Connecticut consumers and engaged in fraud, intentional misrepresentations or negligence.
The Banking Department is now reaching out to consumers who may have lost money.
Century Union is a Massachusetts limited liability company, which had a license from the state to engage in the business of money transmission at three Connecticut locations:
- BEM Brasil Market, at 213 White St., Danbury;
- Bull Boi Meat Supermarket, at 827 North Ave., Bridgeport; and
- Link Travel & Services, at 1839 Park St., Hartford.
"These actions will not be tolerated here in Connecticut," Banking Commissioner Jorge Pérez said in a statement Wednesday.
"I encourage anyone who may have had dealings with Century Union to come forward by contacting the insurance company which holds Century Union's surety bond directly or the Department of Banking. We at the Department are here to serve all Connecticut residents."
The banking department issued a summary suspension and a temporary cease-and-desist order to Century Union and Robes Barboza, the sole member of the LLC, on Oct. 24. Before its license was suspended, the company maintained offices in Newark, N.J., and Pompano Beach, Fla.
Because of these alleged violations, the commissioner may also impose a civil penalty on Barboza and the business.
The banking department is already aware of some of the affected consumers -- but it believes many more may be out there. On Wednesday, the banking department specified the process people can use if they've lost money due to the company.
As a licensee of the Department of Banking, Century Union is required to maintain a surety bond, against which loss claims can be filed. The department will mail letters to residents that it has identified as affected, with detailed instructions on how to file a claim with the insurance company.
Other affected consumers, who have not been in contact with the DOB, do not need to contact the DOB before filing a claim.
Consumers should send an email to bondclaims@capspecialty.com to notify the insurance company, Capitol Indemnity Corporation, of the claim. Include your complete mailing address.
The insurance company will send a claim form, which consumers should complete -- including contact information, name and address of the intended recipient, contact information for the local agent who accepted the payment, and the amount of money transmitted -- and have their signature notarized.
Consumers should also include a copy the transmission receipt from the local agent who accepted payment.
"I sympathize with the families who have been impacted by Century Union's failure to provide the services they were paid to perform, particularly this time of year," Pérez said.
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