From FBI Website, Egold Pleads guilty. Jackson faces 20yrs in jail

[LewisMurray]

Originally Posted by davidhbk

I'm wondering what will be a better alternative to egold and yet more cost effective and popluar.


Dave

What do you mean? explain, please.

[OffshorePrivacy]

The US federal government has a 87% conviction rate on criminal trials -- most people do in fact plea guilty as they know their chances of being found innocent are almost nothing.

Look at Wesley Snipes, he was found innocent of the felony charges and convicted of misdemeanor charges which in state courts usually means probation, yet still received 3 years in a federal prison.

[Spitfire]

Here is the paragraph from the government site what will happened to EGold, and why they plead guilty.

In addition to the fines and prison sentences, each of the defendants agreed that E-Gold and Gold & Silver Reserve will move to fully comply with all applicable federal and state laws relating to operating as a licensed money transmitting business and the prevention of money laundering which includes registering as money service businesses. Also as part of the plea agreement, the businesses will create a comprehensive money laundering detection program that will require verified customer identification, suspicious activity reporting and regular supervision by the Internal Revenue Services’ (IRS) Bank Secrecy Act Division, to which the Financial Crimes Enforcement Network delegated authority according to federal regulations. E-Gold and Gold & Silver Reserve will hire a consultant to ensure their compliance with applicable law and hire an auditor to verify the companies’ claims that all transactions are fully backed by gold bullion.

That means they pleaded guilty to save EGold from being closed down. That means, EGold will get a license. That also means that they have to setup just like PayPal to verify each user who they are as well. I have a feeling that banks might be behind this since they are not getting a piece of the action, and now with EGold have to do this like PayPal? Banks will get fees for money being transfer and all that.

[Tdinoz]

While off topic ... this old image flashed back into my mind
Original image Courtesy Bill Leak and The Australian

[devil666]

Originally Posted by davidhbk

I'm wondering what will be a better alternative to egold and yet more cost effective and popluar.


Dave

May be cash? It won't be suspended I figure))

[irena]

I say get your money out of e-gold NOW. If they allow to stay business,
people face more control over information they must give them. E-gold
now work like bank. You must give tax id information etc. No hide money there anymore.

[jryangold]

Originally Posted by Tdinoz

While off topic ... this old image flashed back into my mind
Original image Courtesy Bill Leak and The Australian

hahahha classic TD....I remember that from the australian

[Spitfire]

Originally Posted by irena

I say get your money out of e-gold NOW. If they allow to stay business,
people face more control over information they must give them. E-gold
now work like bank. You must give tax id information etc. No hide money there anymore.

You hiding something that is illegal for you to say this?

[InvestMummy]

i think if egold verifies each account befroe opening then egold will be good once agian

[justaman]

Originally Posted by InvestMummy

i think if egold verifies each account befroe opening then egold will be good once agian

Do you think that egold will come back?