Dr. Ashie Akpoji aka Moonshine, LLC,; The petition sought a declaratory statement from the Office on whether Petitioner's proposed business model (of offering funds to Florida clients to assist relatives in foreign countries) falls within the ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Office of Financial Regulation has declined to rule on the petition for declaratory statement filed by Dr. Ashie Akpoji aka Moonshine, LLC, on October 17, 2016. The following is a summary of the agency's declination of the petition:

The petition sought a declaratory statement from the Office on whether Petitioner's proposed business model (of offering funds to Florida clients to assist relatives in foreign countries) falls within the Florida Money Transmitter Statute, Chapter 560, Florida Statutes. On December 23, 2016 a Final Order was issued denying the Petition. The facts provided in the Petition are inadequate for the Office to make a determination whether Petitioner's proposed activities constitute money transmission. Although Petitioner states that it receives no money from the public and performs no international money transfers, the Petition is substantially silent regarding the manner in which MS would pay fees to foreign merchants or beneficiary bank accounts.

A copy of the Order Declining of the Petition for Declaratory Statement may be obtained by contacting: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail], or online at https://real.flofr.com/ConsumerServices/SearchLegalDocuments/LDSearch.aspx#/searchLegalDocuments.

Please refer all comments to: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].