July 04, 2006|By TRICIA BISHOP | TRICIA BISHOP,SUN REPORTER
A few years ago, he and his brother partnered with SSA Baltimore Federal Credit Union and Operation ReachOut SouthWest, a nonprofit community coalition, to open Our Money Place at Westside Shopping Center on Frederick Avenue - an effort that brings financial services to underserved residents.
Our Money Place is still open. But just over a week ago, A&B closed its check cashing operation there, leaving organizers trying to find a replacement, said Joyce Smith, executive director of Operation ReachOut SouthWest.
"Our relationship, I felt, was great. They provided a service that was needed to the community," Smith said of A&B. "They had free money order and bill pay. Since they closed, our residents feel it. ... People are still coming in, like, `What are we supposed to do?'"
When it closed, "we were shocked just like the other people in the community," she said. She had heard that Alec Satisky had died and that the check cashing outlets had shut down.
"We just knew something happened," she said.
On June 22, the Satiskys were in different rooms of their company's headquarters on Patapsco Avenue when Brian Satisky heard a gunshot, according to Baltimore police, who arrived about 2:30 p.m. There, they saw Alec Satisky lying on the floor in a back office, bleeding from the head, said Officer Nicole Monroe, a department spokeswoman. A brown-handled revolver lay next to him.
Monroe said officers removed several guns from the location and talked with Deborah Satisky, who told them she'd had no indication that anything was amiss. Brian Satisky told police he knew that his brother was considering suicide because their businesses were ruined financially, Monroe said.
The medical examiner has ruled the death a suicide.
tricia.bishop@baltsun.com
Sun reporters Gus G. Sentementes and Jamie Smith Hopkins contributed to this article.
Timeline
June 22: Alec C. Satisky, co-owner of A&B Check Cashing, commits suicide in a back office of his corporate headquarters in Baltimore, according to city police and the state's medical examiner.
June 23: Global Express Money Orders Inc., saying that drafts for more than $1.8 million that A&B owed it have bounced, files for a judgment in Baltimore County Circuit Court.
June 27: An unidentified bank complains to the Department of Labor and Licensing about an alleged check-kiting scheme involving A&B. An investigation is opened.
June 28: A&B, through its parent company Colleen Inc., files for bankruptcy protection. It lists $11.8 million in debts - $5 million each to Baltimore County Savings Bank and Carrollton Bank, plus $1.8 million to Global Express.
June 29: Labor and Licensing issues a cease-and-desist order to A&B. Global Express is awarded a $1.85 million judgment against A&B.
