E-Gold Pleads Guilty to Money Laundering

["Paul Ferguson" <fergdawg () netzero net>]

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Via PC World.

[snip]

E-Gold, an Internet-based payment service, and three owners have pleaded
guilty to criminal charges related to money laundering, the U.S. Department
of Justice said Monday.

E-Gold, based in Nevis, West Indies, and corporate affiliate Gold & Silver
Reserve each pleaded guilty in U.S. District Court for the District of
Columbia to conspiracy to engage in money laundering and conspiracy to
operate an unlicensed money-transmitting business.

Douglas Jackson, 51, of Melbourne, Florida, the principal director of
E-Gold and CEO of Gold & Silver Reserve, pleaded guilty to the charges, the
DOJ said in a statement.

E-Gold's other two senior directors, Barry Downey, 48, of Baltimore, and
Reid Jackson, 45, of Melbourne, each pleaded guilty to felony violations of
District of Columbia law relating to operating a money transmitting
business without a license. E-Gold, Gold & Silver Reserve and the three
company directors were charged in an indictment returned by a federal grand
jury in April 2007.

[snip]

Much more:
http://www.pcworld.com/businesscenter/article/148720/internet_currency_firm
_pleads_guilty_to_money_laundering.html

- - ferg

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--
"Fergie", a.k.a. Paul Ferguson
 Engineering Architecture for the Internet
 fergdawg(at)netzero.net
 ferg's tech blog: http://fergdawg.blogspot.com/


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