Topic E-gold trouble Rumor or Fact?

korps559

Wow that is just great. E gold is the best way to invest online. I am glad I don't have much money invested online.

Oh I just found an article. Yeah they have been having trouble. BUT only accounts that had warrants on them got their money and accounts frozen. So then normal accounts are not affected it seems..

The Justice Department said it has already obtained a restraining order to restrict the business's operations and two dozen seizure warrants affecting 58 accounts. E-Gold can continue to exchange currency for the customers whose accounts were not covered by those warrants.

Looks like as long as you didn't have a warrant on your account it should be fine.

here is the link:
http://news.com.com/E-Gold+charged+with+money+laundering/2100-1017_3-6180302.html

marab

I don't know that I've even heard of E gold, so obviously I didn't have anything invested there. Does anyone know exactly what a "warrant" is in regard to investing? The only warrant I'm aware of is like a warrant for your arrest if you do something you shouldn't have.

mmarsh

Money Laundering on the Internet is a Federal Offense (crosses States lines). So if they are convicted they are going to do hard-time. A company that is willingly blind to the fact that its clientèle consists of thieves, crooks, and perverts ought to be shut down.

Its no different than the dishonest Banks that wash drug-dealers money.

FourBear

So, are they talking about e-gold harvesting here, or just money laundering through the use of e-gold?

SageMother

They are going after them on money laundering and allowing kiddie porn purveyors to transfer funds through Egold.

Egold was always a bit strange to me so I never used it. Somehow they linked your balance or the amount of money you had available to the price of gold. I thought that was fishy, but maybe I misunderstood the whole concept.

jnjsarauer

Has anyone heard any more about this? I know there were indictments handed down, but I never heard what came of it. Personally, I haven't seen any transactions lately where e-gold is even an option. Are they still doing business?