e-Gold goes down for money laundering - GoFuckYourself.com

quantum-x · 07-22-2008, 08:09 AM

"The three owners of Internet currency service e-gold have pled guilty to money laundering in the U.S. District Court for D.C.. The service is based in the West Indies, but the directors apparently live in Florida. They haven't been sentenced yet, but potentially face decades in prison and millions in fines. In addition, the principal director posted a blog entry yesterday saying that 'criminal activity will not be tolerated,' and pledging to eliminate the loopholes that allowed money laundering to thrive on the service. He also claims that e-gold has more transaction volume in a single quarter than all of the first-generation Web currency services like Cybercash, Beenz, and Flooz completed over their lifetimes. Ironically, one of the reasons that contributed to Flooz's demise in 2001 was rampant money laundering."

http://yro.slashdot.org/article.pl?sid=08/07/22/1434246

Eriic · 07-22-2008, 08:18 AM

Why is there site still operating?

crockett · 07-22-2008, 08:22 AM

Money laundering to the Feds could be something as simple as a spammer getting paid via e-gold or large amounts of people using the service to not pay taxes. ie.. pretty much the same thing that happens with any web payment systems.

I don't trust any "catchy" charges the Feds use anymore because they pull the same shit in adult convictions..it's no longer what you may or may not be guilty of.. it's what they can toss at you and make stick.

Odysseus · 07-22-2008, 08:24 AM

e-Gold was be good service

dready · 07-22-2008, 08:32 AM

I'm surprised it took this long.

Klen · 07-22-2008, 08:33 AM

That explain why exchange rates for egold now are 50%

directfiesta · 07-22-2008, 09:21 AM

Quote:

Originally Posted by quantum-x

"The service is based in the West Indies, but the directors apparently live in Florida. "

Major mistake ... The only good thing for them about Florida is that their house is untouchable ....

baddog · 07-22-2008, 09:26 AM

No surprise.

Odin · 07-22-2008, 10:22 AM

Quote:

Originally Posted by crockett

Money laundering to the Feds could be something as simple as a spammer getting paid via e-gold or large amounts of people using the service to not pay taxes. ie.. pretty much the same thing that happens with any web payment systems.

I don't trust any "catchy" charges the Feds use anymore because they pull the same shit in adult convictions..it's no longer what you may or may not be guilty of.. it's what they can toss at you and make stick.

Yep, exactly. Just the gov't trying to enforce its new world order over the online payment sector as well. A few giants like paypal will be allowed to remain, but just as with the banking sector they'll turn it into what is essentially a locked up system with a few untouchable players who are willing to bend over for the government whilst raping their customers.

DatingGold · 07-22-2008, 10:24 AM

why are they in trouble though? what do they do that epassporte doesnt do?

SykkBoy · 07-22-2008, 10:29 AM

not really that surprising

crockett · 07-22-2008, 10:52 AM

Quote:

Originally Posted by DatingGold

why are they in trouble though? what do they do that epassporte doesnt do?

Lived in Florida...

xmas13 · 07-22-2008, 11:24 AM

RIP egold.

pornguy · 07-22-2008, 11:38 AM

Quote:

Originally Posted by crockett

Money laundering to the Feds could be something as simple as a spammer getting paid via e-gold or large amounts of people using the service to not pay taxes. ie.. pretty much the same thing that happens with any web payment systems.

I don't trust any "catchy" charges the Feds use anymore because they pull the same shit in adult convictions..it's no longer what you may or may not be guilty of.. it's what they can toss at you and make stick.

Hate to say this, but that is in regular criminal law as well. All day every day. Its really sad that there is NO Recourse against it either.

Klen · 07-22-2008, 12:17 PM

Quote:

Originally Posted by xmas13

RIP egold.

It's not over yet.

u-Bob · 07-22-2008, 01:13 PM

Quote:

Originally Posted by DatingGold

why are they in trouble though? what do they do that epassporte doesnt do?

they had/have the word 'gold' in their company name

fris · 07-22-2008, 01:14 PM

i alwys thought people who wnted to be paid in e-gold to be shady

davidd · 07-22-2008, 01:18 PM

Quote:

Originally Posted by directfiesta

Major mistake ... The only good thing for them about Florida is that their house is untouchable ....

Your primary homestead and your primary vehicle are untouchable in Florida... in civil actions. The reasoning being that a home and a way to get to work are essentially human rights.

Your homestead is fair game to the Federal government. This includes the IRS, DEA, FBI, etc etc.

If your homestead was purchased with the proceeds from criminal activities it can be seized. If they purchased their homestead BEFORE e-Gold profits then it is fine (usually)... If they purchased the homestead with the proceeds from e-Gold, which is linked to money laundering, it is gone.

tranza · 07-22-2008, 01:39 PM

Couldn't care less. Never used them before.

seeric · 07-22-2008, 02:02 PM

Quote:

Originally Posted by crockett

Money laundering to the Feds could be something as simple as a spammer getting paid via e-gold or large amounts of people using the service to not pay taxes. ie.. pretty much the same thing that happens with any web payment systems.

I don't trust any "catchy" charges the Feds use anymore because they pull the same shit in adult convictions..it's no longer what you may or may not be guilty of.. it's what they can toss at you and make stick.

"The three owners of Internet currency service e-gold have pled guilty to money laundering"

people dont plead guilty when they're not. e-gold is one of the biggest places to transact shady money.

they are getting what they deserve. i've seen so many sites selling blockbuster bootlegs of hollywood movies and charging in e-gold.

i dont feel sorry for them in the slighest.

czarina · 07-22-2008, 02:10 PM

Quote:

Originally Posted by A1R3K

"people dont plead guilty when they're not. "

Oh, yes, they do. There are thousands of people in jail who pled guilty while they weren't, just because the state attorney was going to ask for the death penalty or life in prison if they went to trial, and offered them a few years in jail if they didn't fight it. It's not about how guilty you are, but how guilty they can make you look in front of a jury.

07-22-2008, 08:09 AM	#1
quantum-x Confirmed User Join Date: Feb 2002 Location: ICQ: 251425 Fr/Au/Ca Posts: 6,863	e-Gold goes down for money laundering "The three owners of Internet currency service e-gold have pled guilty to money laundering in the U.S. District Court for D.C.. The service is based in the West Indies, but the directors apparently live in Florida. They haven't been sentenced yet, but potentially face decades in prison and millions in fines. In addition, the principal director posted a blog entry yesterday saying that 'criminal activity will not be tolerated,' and pledging to eliminate the loopholes that allowed money laundering to thrive on the service. He also claims that e-gold has more transaction volume in a single quarter than all of the first-generation Web currency services like Cybercash, Beenz, and Flooz completed over their lifetimes. Ironically, one of the reasons that contributed to Flooz's demise in 2001 was rampant money laundering." http://yro.slashdot.org/article.pl?sid=08/07/22/1434246 __________________ PrettyInCash.com - BoozedGFs.com - TeenGFs.com - JizzGFs.com- MilfUploads.com -

07-22-2008, 08:22 AM	#3
crockett in a van by the river Industry Role: Join Date: May 2003 Posts: 76,806	Money laundering to the Feds could be something as simple as a spammer getting paid via e-gold or large amounts of people using the service to not pay taxes. ie.. pretty much the same thing that happens with any web payment systems. I don't trust any "catchy" charges the Feds use anymore because they pull the same shit in adult convictions..it's no longer what you may or may not be guilty of.. it's what they can toss at you and make stick. __________________ In November, you can vote for America's next president or its first dictator. Last edited by crockett; 07-22-2008 at 08:23 AM..

07-22-2008, 08:32 AM	#5
dready Confirmed User Industry Role: Join Date: Oct 2002 Location: Toronto, ON Posts: 5,247	I'm surprised it took this long. __________________ ICQ: 91139591

07-22-2008, 10:24 AM	#10
DatingGold $6 PER EMAIL JOiN Industry Role: Join Date: Feb 2003 Location: California Posts: 13,185	why are they in trouble though? what do they do that epassporte doesnt do? __________________ 9 Years of SOLID payouts and conversions! ADULT DATING - $100 PPS LIVE CAMS - $214 PPS WWW.DATINGGOLD.COM ICQ: 27442303

07-22-2008, 10:29 AM	#11
SykkBoy Jesus loves bacon Industry Role: Join Date: Feb 2001 Location: Sin City, Motherfucker Posts: 19,969	not really that surprising __________________ Support my new movie “The Second Coming”

07-22-2008, 08:18 AM	#2
Eriic So Fucking Banned Join Date: Jan 2008 Posts: 2,995	Why is there site still operating?

07-22-2008, 08:24 AM	#4
Odysseus Confirmed User Industry Role: Join Date: Apr 2005 Location: www.gfy.com Posts: 745	e-Gold was be good service

07-22-2008, 08:33 AM	#6
Klen Industry Role: Join Date: Aug 2006 Location: Little Vienna Posts: 32,235	That explain why exchange rates for egold now are 50%

07-22-2008, 09:26 AM	#8
baddog So Fucking Banned Industry Role: Join Date: Apr 2001 Location: the beach, SoCal Posts: 107,089	No surprise.

07-22-2008, 11:24 AM	#13
xmas13 Confirmed User Join Date: Dec 2004 Location: GFY Posts: 5,176	RIP egold. __________________ ICQ 557504926

07-22-2008, 01:14 PM	#17
fris Too lazy to set a custom title Industry Role: Join Date: Aug 2002 Posts: 55,372	i alwys thought people who wnted to be paid in e-gold to be shady __________________ Since 1999: 69 Adult Industry awards for Best Hosting Company and professional excellence. WP Stuff

07-22-2008, 01:39 PM	#19
tranza ICQ: 197-556-237 Join Date: Jun 2003 Location: BRASIL !!! Posts: 57,559	Couldn't care less. Never used them before. __________________ I'm just a newbie.