DOB: Ace's Smoke and Cell Shop - CO

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IN THE MATTER OF:

ACE'S SMOKE AND CELL SHOP LLC
d/b/a ACE'S CHECK CASHING

    ("Ace's Smoke and Cell Shop")

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CONSENT ORDER        

WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Part IV of Chapter 668, Sections 36a-580 to 36a-589, inclusive, of the Connecticut General Statutes, “Check Cashing Services”, and Sections 36a-585-1, 36a-588-1, 36a-588-3 and 36a-588-4 of the Regulations of Connecticut State Agencies (“Regulations”);
 
WHEREAS, Ace’s Smoke and Cell Shop is a Connecticut limited liability company licensed to operate a main office–general facility and a branch–general facility to engage in the business of cashing checks, drafts or money orders;
 
WHEREAS, the Commissioner, through the Consumer Credit Division (“Division”) of the Department of Banking, conducted an investigation pursuant to Section 36a-17(a) of the 2012 Supplement to the General Statutes into the activities of Ace’s Smoke and Cell Shop to determine if it had violated, was violating or was about to violate the provisions of the Connecticut General Statutes and Regulations within the jurisdiction of the Commissioner;
 
WHEREAS, as a result of such investigation, on August 31, 2012, the Commissioner, acting pursuant to Section 36a-587(a)(3) of the Connecticut General Statutes and subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes, issued a Notice of Intent to Refuse to Renew Check Cashing Service Licenses and Notice of Right to Hearing (collectively “Notice”) against Ace’s Smoke and Cell Shop, which Notice is incorporated herein by reference;
 
WHEREAS, on September 5, 2012, the Notice was mailed by certified mail, return receipt requested, to Ace’s Smoke and Cell Shop (Certified Mail No. 70110470000225730737) and to the Principal of Ace’s Smoke and Cell Shop (Certified Mail No. 70110470000225730744);
 
WHEREAS, on September 6, 2012, Ace’s Smoke and Cell Shop and its Principal each received the Notice;
 
WHEREAS, the Notice alleges that Ace’s Smoke and Cell Shop failed to submit its financial statements to the Commissioner, in violation of Section 36a-588-4 of the Regulations, which constitutes sufficient grounds for the Commissioner to refuse to renew the check cashing service licenses of Ace’s Smoke and Cell Shop pursuant to Section 36a-587(a)(3) of the Connecticut General Statutes and subsections (a) and (b) of Section 36a-51 of the 2012 Supplement to the General Statutes;
 
WHEREAS, on September 17, 2012, counsel for Ace’s Smoke and Cell Shop filed an Appearance and Request for Hearing, which hearing is currently scheduled for November 1, 2012;
 
WHEREAS, Section 4-177(c) of the Connecticut General Statutes and Section 36a-1-55(a) of the Regulations of Connecticut State Agencies provide that a contested case may be resolved by consent order, unless precluded by law;
 
WHEREAS, the Commissioner and Ace’s Smoke and Cell Shop now desire to resolve the matters alleged in the Notice and set forth herein;
 
WHEREAS, Ace’s Smoke and Cell Shop voluntarily agrees to consent to the entry of the sanctions described below without admitting or denying the allegation contained in the Notice and set forth herein and solely for the purpose of obviating the need for further formal administrative proceedings concerning the allegation contained in the Notice and set forth herein;
 
WHEREAS, Ace’s Smoke and Cell Shop agrees that the Notice may be used in construing the terms of this Consent Order, and agrees to the language of this Consent Order;
 
AND WHEREAS, Ace’s Smoke and Cell Shop, through its execution of this Consent Order, voluntarily agrees to waive its procedural rights, including a right to hearing as it pertains to the allegation contained in the Notice and set forth herein, and voluntarily waives its right to seek judicial review or otherwise challenge or contest the validity of this Consent Order;


CONSENT TO ENTRY OF SANCTIONS

WHEREAS, Ace’s Smoke and Cell Shop, through its execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing the following sanctions:

1. No later than the date this Consent Order is executed by Ace’s Smoke and Cell Shop, Ace’s Smoke and Cell Shop shall remit to the Department of Banking by cashier’s check, certified check or money order made payable to “Treasurer, State of Connecticut”, the sum of Three Thousand Dollars ($3,000) as a civil penalty;
2.
Ace’s Smoke and Cell Shop shall timely and accurately file all required financial statements and other information required by Part IV of Chapter 668 of the Connecticut General Statutes and the Regulations.
 

CONSENT ORDER

NOW THEREFORE, the Commissioner enters the following:

1. The Sanctions set forth above be and are hereby entered;
2.
Upon issuance of this Consent Order by the Commissioner, this matter will be resolved and the Commissioner will not take any future enforcement action against Ace’s Smoke and Cell Shop based upon the allegation contained herein; provided that issuance of this Consent Order is without prejudice to the right of the Commissioner to take enforcement action against Ace’s Smoke and Cell Shop based upon a violation of this Consent Order or the matters underlying its entry, if the Commissioner determines that compliance with the terms herein is not being observed or if any representation made by Ace’s Smoke and Cell Shop and reflected herein is subsequently discovered to be untrue;
3.
This Consent Order shall become final when issued.
 
 

Dated at Hartford, Connecticut
this 31st day of October 2012.            ________/s/_________
                                                     Howard F. Pitkin
                                                     Banking Commissioner



I, Mohd Zunaid, state on behalf of Ace’s Smoke and Cell Shop LLC d/b/a Ace’s Check Cashing, that I have read the foregoing Consent Order; that I know and fully understand its contents; that I am authorized to execute this Consent Order on behalf of Ace’s Smoke and Cell Shop LLC d/b/a Ace’s Check Cashing; that Ace’s Smoke and Cell Shop LLC d/b/a Ace’s Check Cashing agrees freely and without threat or coercion of any kind to comply with the sanctions entered and terms and conditions ordered herein; and that Ace’s Smoke and Cell Shop LLC d/b/a Ace’s Check Cashing voluntarily agrees to enter into this Consent Order, expressly waiving the procedural rights set forth herein as to the matters described herein. 


                                            By:  ________/s/_________
                                                   Name:  Mohd Zunaid
                                                   Title:  Member
                                                   Ace's Smoke and Cell Shop LLC
                                                   d/b/a Ace's Check Cashing
                                                   
                                                   

State of:  Connecticut                                 

County of:  Hartford

On this the 24 day of October 2012, before me, Mark D. Colson, the undersigned officer, personally appeared Mohd Zunaid who acknowledged himself/herself to be the Member of Ace’s Smoke and Cell Shop LLC d/b/a Ace’s Check Cashing, a Connecticut limited liability company, and that he/she as such Member, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the limited liability company by himself/herself as Mohd Zunaid.

In witness whereof I hereunto set my hand.


                                         ________/s/_________
                                         Notary Public
                                         Date Commission Expires:  06/30/2013
                                         


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