By: Richard L. Smith
Ali Hassanein, 68, of Kearny, has admitted to filing over $325 million in false currency transaction reports and aiding in an unlicensed money transmitting business, U.S. Attorney Philip R. Sellinger announced.
The plea was entered on October 15, before Chief U.S. District Judge Renée Marie Bumb in Camden federal court.
Federal officials said Hassanein, who owned Galaxia International Inc., a check cashing and money service business, pleaded guilty to conspiracy to file false currency reports and aiding in the operation of an unlicensed money transmitting business.
From 2019 to 2023, Hassanein filed thousands of false currency transaction reports, misrepresenting the location of transactions and omitting the true identities of those involved.
The charges carry a maximum prison sentence of five years and fines that could reach up to $250,000 or more. Sentencing is scheduled for April 2, 2025.