Bakersfield man pleads guilty to illegally transferring $5M to individuals in China, Nigeria

BAKERSFIELD, Calif. (KGET) -- A Bakersfield man pleaded guilty Monday to operating an unlicensed money transmitting business involving more than $5 million in illegally obtained funds, according to the U.S. Department of Justice, Eastern District of California. Ifeanyi Emmanuel Ugwu, 49, owned, operated and served as CEO of Franklin Finance Inc. from December 2020 to [...]