The Industry Standard - e-Bullion co-founder jailed on money transfer charge - Comments

juss wondering if anyone had

jerry — Wed, 07 Jan 2009 19:19:31 -0500

juss wondering if anyone had any luck getting their funds back from e-bullion.com anyone know how bout i go or who to talk to ?

whats up with e-bullion ,am

jerry — Wed, 03 Sep 2008 22:56:31 -0400

whats up with e-bullion ,am afraid if we will still get our monies back. somebody please talk.

Everyone: The latest

Ian Lamont — Fri, 22 Aug 2008 17:43:16 -0400

Everyone: The latest e-Bullion update has been posted at the following location:

e-Bullion's lawyer calls government's actions "extreme"

Please note that I am unable to help anyone recover their money from e-Bullion or federal authorities, and I am unaware of any process to have funds in e-Bullion accounts returned to their rightful owners. However, I will report this news if it comes to light. I would suggest keeping an eye on the list of most recent articles about e-Bullion, published at the following link:

Latest e-Bullion articles

Also, if you do have news to share, please clearly identify the source of that information. Do not spread unconfirmed rumors about the situation -- a lot of people are very concerned about what's happening, and are making real-world decisions based on what they are seeing on the Web.

Ian Lamont
Managing Editor
The Industry Standard

we the way this case of

olanrewaju — Wed, 13 Aug 2008 18:04:17 -0400

we the way this case of e-bullion is going,let just hope and pray that we get back our money in e-bullion account

e-Bullion co-founder jailed on money transfer charge

Ian Lamont — Tue, 05 Aug 2008 17:06:38 -0400

James Fayed, the co-founder of e-Bullion, has been jailed after being charged with conducting unlicensed money transactions that allegedly netted $20 million worth of individuals' investments, according to Mark Aveis, an assistant U.S. attorney quoted on SFGate.com. Another article on The Los Angeles Times website this morning says Aveis described Fayed's businesses as Ponzi schemes.

Fayed is currently a suspect in the murder of his wife, Pamela Fayed, who was also a co-founder of e-Bullion. She was killed in a Los Angeles parking garage late last month. No one has been arrested in the murder case yet, but Aveis says James Fayed had a motive: killing her would prevent her from testifying in the case of the alleged unlicensed money transfer operation.

In a search of Fayed's house after his arrest last week, authorities seized $60,000, $3 million in gold bullion, and 25 weapons including assault rifles, according to Aveis.

At a hearing this week, Aveis claimed that Fayed was a flight risk and a danger to the community, but the judge ordered him released on $500,000 bond. The Times says Fayed remains in federal custody.

e-Bullion is one of several well-known "digital gold currency" firms. Using Internet transactions, DGC companies take customer deposits and match them with the equivalent amount of gold that is supposedly stored in vaults. Many of the companies are unregulated and/or incorporated in other countries to avoid U.S. financial laws and shield the identities of their clients. However, another GDC company, e-gold, recently vowed to tighten up its policies and submit to U.S. regulatory oversight after its founders pled guilty in a money laundering trial.

A message on the e-Bullion website on Tuesday afternoon said the site would be unavailable for four hours while staff performed "routine maintenance."

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