Department of Banking Georgia cancels the Money Transmitter License of a Florida MSB.

The Department of Banking just canceled the money transmitter license of a Florida, sole-proprietor owned Money Services Business (MSB). You can read the short-order announcement below.

Department Orders Revocation of RANA Financial, LLC’s Money Transmitter License and Orders Ronildo Freitas to Cease and Desist

The Final Order (PDF) can be read here.

In hindsight you can see what a joke of an operation this gentlemen was running.