Western Union fights Arizona seizure warrant
The Denver Business Journal - 11:26 AM MDT Friday
Print this Article Email this Article Reprints RSS Feeds Most Viewed Most Emailed
Western Union said Friday that it hoped to delay an effort by Arizona officials to seize certain money transfers to Mexico as part of the state's investigation into illegal immigration and drug smuggling.
Western Union, which will be spun off from Greenwood Village-based First Data Corp. (NYSE: FDC) on Sept. 29, said in a filing with the Securities and Exchange Commission that it was seeking a stay of a seizure warrant granted to the Arizona attorney general's office on Sept. 21.
The warrant allows authorities to seize person-to-person money transfers originating in Arizona and 28 other states that are intended for recipients in 26 locations in the Mexican state of Sonora. It would require Western Union to pay the funds into a designated detention account instead of transferring them to the intended recipients.
Western Union on Wednesday asked a federal court to issue a temporary restraining order against the seizure plan.
"Although the issuance of the warrant, whether or not sustained, may adversely affect the volume of money transfers, Western Union does not believe the ultimate impact on the company will be material," the company said in a statement.
First Data stock has faced a headwind in recent months, as the national political debate over illegal immigration has hurt its Western Union money transfer business. First Data's chief executive officer, Ric Duques, told analysts in July that money-transfer business was down in the second quarter of the year as Mexican immigrants became reluctant to wire money home for fear of attracting the attention of authorities, or because they wanted to hold onto cash in case they were arrested.
2006-09-23 05:25:58 · 9 answers · asked by Anonymous in Politics & Government ➔ Immigration
I love Arizona, I really love it here.Great article and I will not boo hoo for big business.
2006-09-23 05:32:02 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Keep US Dollars In The US Economy
America First
2006-09-23 07:16:44 · answer #2 · answered by Anonymous · 2⤊ 0⤋
Hey, they gotta start somewhere, sounds good to me. I won't lose any sleep over them not getting the money.
2006-09-23 05:45:05 · answer #3 · answered by 51ain'tbad 3 · 1⤊ 0⤋
LOL wouldn't THAT throw a monkey wrench in the works! LOLOL
2006-09-23 05:28:18 · answer #4 · answered by gokart121 6 · 2⤊ 0⤋
and if our government has anything to do with it the illegals & druggies will win!
2006-09-23 05:39:31 · answer #5 · answered by Anonymous · 0⤊ 0⤋
good idea, time something positive happened.
2006-09-23 05:48:38 · answer #6 · answered by ? 5 · 0⤊ 0⤋
boohoohoo for criminal law breakers.
2006-09-23 05:37:44 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Poor little criminals......LMAO
2006-09-23 18:38:56 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Awwwww....the constitution doesn't matter anymore.......
2006-09-23 05:34:21 · answer #9 · answered by The Angry Stick Man 6 · 1⤊ 2⤋