A Manx-based payment processing company will be struck off the Companies Register - four months after it was accused of money laundering by the American government.
Counting House, based in St George's Street in Douglas, was set up in 2009 and provides services to the e-Gaming industry.
Last year, however, the US Treasury Department claimed it was a criminal organisation which laundered funds worldwide.
The Department of Economic Development has now confirmed the firm will be struck off the register.
Counting House faced sanctions from the American government after it was accused of taking payments from a range of mail fraud schemes.
The company's chief executive Paul Davis, who runs two farms on the Island, was named individually by US authorities.
The accusations were made as part of a worldwide investigation into a group of companies called Pacnet which Counting House is linked to.
Under the Companies Act 2006 Counting House will be struck off the register in 12 weeks time unless the decision is challenged.
FSA releases new progress report on financial crime defences
Changes planned for how government-run companies prepare accounts
New business guide deals with stopping WMD financing
Office space up for rent at Ronaldsway Airport
Have your say on the future of the Island's economy
Port St Mary hosts first business support drop-in session today
Government releases guidance for businesses ahead of vape tax
Survey shows low approval rating for Island clothing shops
Comments
Add a comment