The Industry Standard - Briefly: Judge denies request to maintain e-Bullion's computer systems - Comments

Readers: There are two major

Ian Lamont — Fri, 13 Feb 2009 12:48:47 -0500

Readers: There are two major developments in the e-Bullion story, located at the following locations:

Copies of the relevant court documents are linked from the articles. I am closing the comment thread here, but you are welcome to continue the discussion in the comment threads for the two new articles.

Ian Lamont
Managing Editor
The Industry Standard

Readers: There is a new

Ian Lamont — Tue, 25 Nov 2008 17:23:00 -0500

Readers: There is a new update:

e-Bullion's lawyer blasts new government claims, says seizure of funds "not authorized"

You are welcome to comment below the new article. Please note that I cannot give any advice on how e-Bullion depositors can recover their funds.

Ian Lamont
Managing Editor
Industry Standard

We're so screwed. I've

Mark — Mon, 13 Oct 2008 00:51:50 -0400

We're so screwed. I've kissed my gold good-bye.

As for the behavior of the Federal authorities, I would surmise that this is a typical mode of operation: they will tie someone up with questionable charges, seizing everything in sight while they pursue an investigation into the "real" charges which are the ones they really want to make stick.. In this case it sounds like the illegal activities by some account holders gave the authorities an excuse to seize assets for the questionable "illegal transaction" investigation. Depriving the "perp" of any and all resources is just one tactic they use to improve their odds.

Whether they did this in co-operation with the local police murder investigation or they have more solid charges to be brought later is a good question. It's hard to imagine the FBI doing favors for the local police, but these are strange times. And it is interesting how the Feds seem to backing off just in time for the local law to bring forward the murder indictment.

thanks micinka for your

kmac — Sun, 21 Sep 2008 18:27:52 -0400

thanks micinka for your information, you really make me feel there is hope for my money and i am in jamaica.

If the charges are dropped,

micinka — Wed, 17 Sep 2008 14:12:36 -0400

If the charges are dropped, they should return all the seized property as well. The Feds trully play a nasty game. There is a daughter, there are attorneys, Fayed can appoint someone to run the business.

The last two days updates

Lee — Wed, 17 Sep 2008 12:39:25 -0400

The last two days updates says that the original charges of of transmitting money without a license were dropped without prejudice. Very interesting, I wonder if they will find a reason to hold onto the money and assets? HEADLINE
Fayed faces murder, conspiracy charges He and employee planned stabbing of estranged wife, complaint alleges.
On Monday, federal prosecutors dropped that charge without prejudice, which means they can refile it, said Thom Mrozek, spokesman for the U.S. Attorney's Office
http://www.venturacountystar.com/news/2008/sep/16/fayed-faces-murder-con...
HEADLINE Fayed attorney says evidence is circumstantial
Murder case arraignment is postponed until Oct. 8

http://www.venturacountystar.com/news/2008/sep/17/fayed-attorney-says-sl...
Fayed was already in custody and facing one count of operating an online money transmitting business without a license in federal court when he was arrested Monday.
Federal prosecutors dropped the charge against him but have the option to refile the case.

Readers: The federal charge

Ian Lamont — Wed, 17 Sep 2008 11:56:00 -0400

Readers: The federal charge against Fayed has been dropped, but not against e-Bullion:

Feds drop charge against James Fayed, e-Bullion still under indictment

Ian Lamont
Managing Editor
The Industry Standard

Dear people, the one charge

micinka — Wed, 17 Sep 2008 10:26:25 -0400

Dear people,
the one charge of transmitting money without a license has nothing to do with the murder charge. Each is a separate case. Lets wait what the trial which starts on the 30th of September brings. Just in case he wins that, the Government has to give back all seized property. And if Fayed cannot run it, there is still the daughter, which could, with the help of the attorneys, who could appoint somebody.

To answer Ian, I was using

Greysi Alvarez — Tue, 16 Sep 2008 14:04:41 -0400

To answer Ian, I was using E-bullion simply for savings because Honduran Lempira has much inflation.

Thanks to Micinka (and anyone who write) because your efforts help us all. I also received no answer to my letter.

The information on Judge Philip S. Gutierrez from Lee is maybe best idea, because if he choose to do right then no one is more important.

Will also be good to know what Letor finds out.

Breaking news: e-Bullion

Ian Lamont — Mon, 15 Sep 2008 20:36:44 -0400

Breaking news:

e-Bullion co-founder charged with murder

I was notified of the news by Paul Huebl; additional details came from the Ventura County Star.

However, there's no word on what will happen with e-Bullion's seized assets, and it may be a long time before anyone finds out -- both trials have yet to begin.

Ian Lamont
Managing Editor
The Industry Standard

Fayed and employee to be

Lee — Mon, 15 Sep 2008 19:19:54 -0400

Fayed and employee to be charged with murder! Jose Luis Moya, 47, will be arraigned this afternoon in Los Angeles County Superior Court on the charges. James Fayed, 45 who is currently being held without bail in a separate federal case, is scheduled to be arraigned Tuesday 9/16/2008.

http://www.venturacountystar.com/news/2008/sep/15/fayed-and-employee-be-...

Readers: There's news in in

Ian Lamont — Mon, 15 Sep 2008 13:28:40 -0400

Readers: There's news in in the Pamela Fayed investigation:

e-Bullion update: Arrest in Fayed murder investigation

Also, I believe there is some sort of hearing today on the federal charge relating to e-Bullion, but am not sure. The federal trial officially opens on Sept. 30.

Ian Lamont
Managing Editor
The Industry Standard

Hi Ian Thanks for taking

Chuck Welsh — Fri, 12 Sep 2008 18:22:12 -0400

Hi Ian
Thanks for taking time on this. I placed monies with them to take advantage of the rising value of gold, and the ease of redeeming it for cash, along with some other investments which required it! I was in the process of liquidating it when ?????
Chuck

Hi Ian, I was investing in

Marie — Thu, 11 Sep 2008 14:56:47 -0400

Hi Ian,
I was investing in hypes. My husband is retired and I was always a stay at home mom with 5 kids and then taking care of grandchildren. I also take care of my retarded brother who is 10 years older than me. I am unable to go out to work so I started investing in hypes to help out with bills, etc. It took a long time for me to get the money and I used e-bullion to invest and withdraw. Now it looks like it is gone.
Marie

Readers: I have a question

Ian Lamont — Thu, 11 Sep 2008 10:43:15 -0400

Readers: I have a question for everyone:

What were you using e-Bullion for?

A gold-indexed savings account?

To transfer money to overseas suppliers and customers?

High-yield investment program (HYIP)?

Something else?

I have heard from people who were using it to invest in gold or transfer money to suppliers, but I am particularly interested in hearing from those who participated in HYIPs or similar online investing programs, or purposes that are not listed above.

Many thanks,

Ian Lamont
Managing Editor
The Industry Standard

Briefly: Judge denies request to maintain e-Bullion's computer systems

Ian Lamont — Tue, 02 Sep 2008 15:17:52 -0400

A motion filed by lawyers for James Fayed and e-Bullion to maintain the company's computer systems has been turned down, according to a report in the Ventura County Star.

Lawyers had requested that authorities release $300,000 out of approximately $24 million in assets that had been seized from e-Bullion's offices and Fayed's home by FBI and IRS agents on August 5, after Fayed was charged with operating a money transmittal business without a license. U.S. District Court Judge Philip Gutierrez was quoted as saying the motion to release the funds "seems more like it's preserving a business rather than preserving data" that could serve as evidence in the trial.

Background: