Connecticut State Banking Commissioner John P. Burke today ordered Muhelkumar R. Patel, owner of Quick Stop Mini Mart DBF, located at 61 Walden Avenue in New London, to immediately cease and desist from issuing Connecticut payment instruments.

The Banking Commissioner learned that Mr. Patel, in the last month, sold at least six money orders labeled "Personal Money Order" to customers without being licensed to engage in this type of business in Connecticut. The money orders were drawn on a now frozen account held at a Connecticut bank.

According to state law, anyone who engages in the business of issuing Connecticut payment instruments, such as money orders or travelers checks, must be licensed by the Banking Commissioner. Mr. Patel is not now and has never been licensed by the Banking Department. In addition, Mr. Patel did not post a bond with the Banking Department to protect anyone who purchased one of its money orders from loss, a requirement of all license holders.

Banking Commissioner Burke warns consumers that money orders purchased at Quick Stop Mini Mart will likely not be honored. If anyone has any questions they may contact the Banking Department, at 1-800-831-7225.

"The Banking Department licenses individuals or firms who issue money orders to protect consumers," Commissioner Burke said. "Unlicensed activity in Connecticut that places consumers at risk will not be tolerated."

In addition to the temporary order to cease and desist, Commissioner Burke issued a notice of intent to issue a permanent order to cease and desist and a notice of intent to impose a civil penalty against Mr. Patel. The convenience store may request a hearing on the administrative actions. Please find a copy of the administrative order attached.

Link to Consent Order