Money laundering and illegal schemes laws don't need a "Sheriff in town". Money laundering and illegal schemes' laws apply to the internet so does a bunch of other laws not written specifically for the Internet. Running, participating in, and promoting illegal schemes is a federal offense in the US and it is a crime in most civilized countries of this world. A ponzi can bring the world's economy to its knees if left running succesfully. It is a serious offense in the US make no mistake about it.
A crime is a crime, no doubt about it, and anyone using the internet in that way should be held liable. But don't be so quick to place your faith in government to solve the world's financial problems.
For example, Social Security is run as a pure ponzi / pyramid scheme. Current workers pay benefits to current retirees. There is no investment of funds and therefore no revenue from investments. Also, the U.S. continues to go further and further into debt. When the national debt is so high that the interest payments absorb all federal tax revenue, you're looking at a complete and total financial collapse in the U.S.
Law enforcement officials worry that the little-known digital currency industry is becoming the money laundering machine of choice for cybercriminals. On the evening of Dec. 19, agents with the Federal Bureau of Investigation and Secret Service raided the Melbourne (Fla.) office of e-gold's parent company, Gold & Silver Reserve Inc., and the nearby home of its founder, Douglas L. Jackson. Agents copied documents and computer files, but so far no charges have been brought. The Secret Service and the FBI declined to comment on the raid. Jackson has denied any wrongdoing, though the raid isn't the first indication that federal investigators view e-gold as a magnet for online misdeeds. The FBI separately is pursuing about a dozen probes in which e-gold appears as a "common denominator," a senior agent says.
Money laundering and illegal schemes laws don't need a "Sheriff in town". Money laundering and illegal schemes' laws apply to the internet so does a bunch of other laws not written specifically for the Internet. Running, participating in, and promoting illegal schemes is a federal offense in the US and it is a crime in most civilized countries of this world. A ponzi can bring the world's economy to its knees if left running succesfully. It is a serious offense in the US make no mistake about it.
Please don't be planting and fertilizing such paranoia.
If they go after anybody, it's going to be the *real* criminals and the bigger operators.
But wait. If they go off half-****ed at anything, maybe you'd better be scared as well. After all, the word "investor" is under your name here, too!
IANAL, but AFAIK ponzies are not illegal in Canada, but are concedered gambling. I also would be very interested to see the article. Please Foreign_Crime_Watchers, please post it, or if you do not have it at hand, perhaps you could give a bit of more info so we can find it.
IANAL, but AFAIK ponzies are not illegal in Canada, but are concedered gambling. I also would be very interested to see the article. Please Foreign_Crime_Watchers, please post it, or if you do not have it at hand, perhaps you could give a bit of more info so we can find it.
Thanks
Foreign is in various forums, under various names. All he does is cause trouble with un-substantiated posts. He is Ponzi-Nemesis form the 12DailyPro forum. A real pain-in-the-a$$. Oh and by the way he is a 14yr old kid.....
It was,"Only a matter of time" before this was going to happen...
Oh-well, it was fun while it lasted
Hint: The IRS has more power than the FBI...all you people who didn't report their egold earnings...opps..
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There is absolutely no amount of education that can over come a persons willingness, to hand over money to a social engineering con artist.
The target is not to make the world safe for fools, but to make it safe for the competent - which at present it is not.
Simple solution, invest in legitamate investement programs (NSFG, etc) and not in known ponzis, and report your e-gold out-exchanges as income to the IRS. Since e-gold is not reconzied by the financial world and IRS as currency (yet), until you out-exchange you haven't actually made any money.
The fact that they were raided and they are still in business show that they couldn't find anything illegal with the e-gold 'system'. If e-gold was illegal, Paypal would probably be illegal also.
Re: e-gold Also Raided ...
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