TulipTools Internet Business Owners and Online Sellers Community

Quote:Three owners of online payment processor E-Gold and an affiliated company have been indicted for money laundering and related crimes for allegedly allowing sellers of child pornography, operators of investment scams and other types of criminals to send and receive payments related to their misdeeds.

In addition to E-Gold, the four-count indictment names Gold & Silver Reserve and company owners Douglas L. Jackson of Satellite Beach, Florida; Reid A. Jackson of Melbourne, Florida; and Barry K. Downey of Woodbine, Maryland. They are charged with one count each of conspiracy to launder monetary instruments, conspiracy to operate an unlicensed money transmitting business, operating an unlicensed money transmitting business under federal law and money transmission without a license under the District of Columbia...

full article: http://www.theregister.co.uk/2007/05/01/...ndictment/

E-Gold: The Currency of Choice for Cybercrooks
http://community.tuliptools.com/index.ph...015.0.html

E-Gold published a letter denying the charges:
http://www.e-gold.com/letter3.html

Update: owners of E-Gold plead guilty to money laundering

Quote:E-gold and the online money-transfer site's three owners have reached a deal with the Department of Justice to plea guilty to charges of conspiracy to engage in money laundering and conspiracy to operate an unlicensed money-transmitting business. The company now faces fines of up to $3.7 million, along with an agreed-on forfeiture of $1.75 million in funds...

full article: http://valleywag.com/5027770/e+gold-foun...laundering

guilty to charges of conspiracy to engage in money laundering and conspiracy to operate an unlicensed money-transmitting business