Georgia Department of Banking and Finance Enters into a Consent Order with the Seven Seas Bottle Shop, Inc and its President, Gasan Awad

August 11, 2009


Atlanta, Georgia ~
 On August 3, 2009, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with the Seven Seas Bottle Shop, Inc., located at 4121 Austell-Powder Springs Road, Powder Springs, Georgia, 30127, registration number 23254, and its president, Gasan Awad, to resolve allegations that laws and rules governing the check cashing industry had been violated.

The terms of the Consent Order include requirements that this registrant provide the Department with documentation showing that background checks have been run for all employees, including family members; report to the Department within ten days any criminal disposition resulting from an employee being charged with a felony; maintain proper personnel files for all employees; finalize all ownership issues pending with the Department; provide customers with receipts as part of each check cashing transaction; renew and keep current the company’s FINCEN registration; maintain daily records of checks cashed in the manner prescribed by Department rules; and, pay a $10,000 fine to the Department. 

Contact
Rod Carnes
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
E-mail:   rodc@dbf.state.ga.us

The Department has regulatory and/or licensing authority over state-chartered banks, credit unions, trust companies, mortgage brokers, mortgage lenders, mortgage processors, check cashers, sale of check companies, money transmitters, international banking organizations, and bank holding companies conducting business in Georgia.  Visit us on the Web at: http://dbf.georgia.gov/

###

Related Files: 
PDF icon Consent Order (207.28 KB)