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04-27-2007, 10:36 PM
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#21 (permalink)
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Crapper
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Re: e-gold Hits The Wall! Government Seizes Major Agents’ Accounts
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Last edited by NelsonN : 04-27-2007 at 10:39 PM.
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04-27-2007, 10:39 PM
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#22 (permalink)
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Junior Crapper
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Re: e-gold Hits The Wall! Government Seizes Major Agents’ Accounts
So that means egold has been closed and all users' accounts have been frozen?
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04-27-2007, 10:47 PM
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#23 (permalink)
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Junior Crapper
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Re: e-gold Hits The Wall! Government Seizes Major Agents’ Accounts
Quote:
Originally Posted by phildunn
So that means egold has been closed and all users' accounts have been frozen?
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No e-gold is not closed and only a few accounts have been frozen |
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04-27-2007, 11:10 PM
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#24 (permalink)
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Crapper
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Re: e-gold Hits The Wall! Government Seizes Major Agents’ Accounts
Quote:
Originally Posted by phildunn
So that means egold has been closed and all users' accounts have been frozen?
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No, it just means that e-Gold's owners will now have to go to court and fight for their right to continue to do business. If they lose the case, they have to cease operations, or move offshore.
Am I right?
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04-27-2007, 11:18 PM
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#25 (permalink)
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Crapper
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Re: e-gold Hits The Wall! Government Seizes Major Agents’ Accounts
From reading that article above, it sounds as though it might just end up with e-gold having to become a lot stricter on the verification front to continue - which would by no means be a bad thing!
Is e-gold not a licensed money transmitter in many US states as the article suggested? I just find it surprising that with all the talk about licensing lately, e-gold's status wasn't brought up (unless it has and I have just missed it).
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04-28-2007, 01:20 AM
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#26 (permalink)
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Dolphin Dame
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Re: e-gold Hits The Wall! Government Seizes Major Agents’ Accounts
My understanding has been that because egold is a gold based currency, it has not been required to be under the same money transmitting regulations as say the likes of Paypal, etc.
I believe I read previously (i don't remember where unfortunately) that the govt did determine in the past the E-gold was exempt from these laws ... so I find it baffling that they have not included that as a charge against them ...
Dolphin
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04-28-2007, 02:18 AM
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#27 (permalink)
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Grand Sanitation Manager
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Re: e-gold Hits The Wall! Government Seizes Major Agents’ Accounts
These indictments should be temporary. E-gold has cleared themselves a few times on brushing with the Feds, and they should still be able to do so this round.
Panic is a unnecessary emotion at this point of time, patience is.
tsk tsk, they're testing my patience though.
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04-28-2007, 02:20 AM
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#28 (permalink)
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Grand Sanitation Manager
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Re: e-gold Hits The Wall! Government Seizes Major Agents’ Accounts
Quote:
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The indictment alleges that E-Gold has been a highly favored method of payment by operators of investment scams, credit card and identity fraud, and sellers of online child pornography. The indictment alleges that the defendants conducted funds transfers on behalf of their customers, knowing that the funds involved were the proceeds of unlawful activity; namely child exploitation, credit card fraud, and wire (investment) fraud; and thereby violated federal money laundering statutes. The indictment further alleges that the defendants operated the E-Gold operation without a license in the District of Columbia or any other state, or registering with the federal government, and thereby violated federal and state money transmitting laws. The indictment alleges that this conduct occurred at various times from 1999 through December 2005.
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And also, there's nothing brought up on evidences that E-gold is a highly favoured of payment by operators of crime. They'll have to prove it with evidences in court with existing crimes too.
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04-28-2007, 03:48 AM
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#29 (permalink)
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Money Guru
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Re: e-gold Hits The Wall! Government Seizes Major Agents’ Accounts
Quote:
Originally Posted by NelsonN
No, it just means that e-Gold's owners will now have to go to court and fight for their right to continue to do business. If they lose the case, they have to cease operations, or move offshore.
Am I right?
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Umm..they face JAIL TIME if convicted. If that happens, I don't know, maybe they have someone to take over the operation of e-gold, but most likely e-gold will cease operations.  |
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04-28-2007, 03:51 AM
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#30 (permalink)
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Money Guru
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Re: e-gold Hits The Wall! Government Seizes Major Agents’ Accounts
Quote:
Originally Posted by Jude
These indictments should be temporary. E-gold has cleared themselves a few times on brushing with the Feds, and they should still be able to do so this round.
Panic is a unnecessary emotion at this point of time, patience is.
tsk tsk, they're testing my patience though.
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Yeah, you're pretty much right Jude. At this point patience is the best virtue to have. |
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