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The Almighty Buck

Submission + - Feds go after E-Gold

An anonymous reader writes: The inevitable has finally arrived, the feds are going after E-gold and its associated digital currency exchangers. A four count indictment against owners Douglas L. Jackson, Reid A. Jackson, and Barry K. Downey was unsealed today in Washington DC charging them with conspiracy to launder monetary instruments, conspiracy to operate an unlicensed money transmitting business, operating an unlicensed money transmitting business under federal law, and transmission of money without a license under D.C. law. It seems E-gold will still honor existing commitments to most small account holders although the DOJ is also seeking to freeze specific large accounts.

From the article:
"The DOJ also obtained a restraining order to prevent the defendants from unloading their assets as well 24 seizure warrants on more than 55 accounts believed to be property involved in money laundering and the operation of an unlicensed money transmitting business."

links:
http://www.infoworld.com/article/07/04/27/HNdigita lcurrencycharges_1.html
http://www.orlandosentinel.com/news/local/state/or l-bk-brevardmoney042707,0,5539803.story?coll=orl-h ome-headlines
http://www.pr-inside.com/digital-currency-business -e-gold-indicted-r107629.htm

"And do you think (fop that I am) that I could be the Scarlet Pumpernickel?" -- Looney Tunes, The Scarlet Pumpernickel (1950, Chuck Jones)

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