Monday, July 21, 2008

E-Gold Pleads Guilty to Money Laundering

Grant Gross writes on PC World:

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.

More here.

1 Comments:

At Mon Jul 21, 05:10:00 PM PDT, Anonymous MV said...

I've read a few articles on this but can't find the actual doj news release

 

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