Feds drop charge against James Fayed, company still under indictment

I don't think fayed will be running his business from the jail cell where he's being held without bail for killing his wife. It will take at least three years for that case to go to trial. Of course the federal charges will be re-filed should Fayed be acquitted of the murder.

The company may find itseld in a court ordered receivership whre recovered assests are returned to investors if they file proper claims.

Here is the very latest with the court records: http://www.crimefilenews.com/search/label/fayed%20murder

well we may be able to have access to the funds at some point because the charges have nothing to do with the company so they should get back to business

Ian, that doesn't sound right. E-bullion was never charged. The charges were against Goldfingercoin. Remember, e-bullion is not mentioned in the indictment. So why does the charge against e-bullion remain? I do not understand.

The indictment says Goldfinger, but the "Summary of the Evidence in Support of the Pending Charge" specifically mentions the role of e-Bullion in the alleged money transmittal scheme. Additionally, the spokesman I talked was responding to my question about e-Bullion. I'll update the text to reflect that.

Ian Lamont
Managing Editor
Industry Standard

It may be in the evidence, but E-bullion is not an US company, so that is kind of weird as well. As E-Bullion didn't transmit any money at all. Something is not right here.

Mark, could you explain a little bit, according to what law or what proof do you have when you write such a thing. Is it a fact? That you know for 100%, for sure? I would like to have this explained and if possible documented, where you get that idea.

They didn't charge E-bullion, they are using e-bullion as evidence, but when Fayeds attorneys wanted to open up E-bullion to use it as exculpatory evidence, to use it to show evidence that could have proven there was no illegal activity, the judge denied that. So why can the prosecutor use e-bullion as evidence and not the defendant, that sucks. The prosecutor is not using e-bullion as evidence, he is using it as hostage. Totaly unfair and undemocratic.

Hi Lector. It doesn't matter where a company is registered, if the Main office or any of its other offices are in the USA it falls under US Federal Laws. Sad but true, E-bullion did do business from the US and registered E-bullion in another country. This raises a red flag to the Feds that the company is trying to hide their business practices and evade taxes. Also, the money is in US bank accounts where the Feds could get their hands on it and they will make it extremely hard to get it back from them. I believe what Micinka wrote is the correct scenario. However Lector, you are correct in saying they are trying to steal the money.

Hi Mcinika, sorry in this case you are wrong. I live in the US and the best way for me to send my funds to E-bullion was through the mail. Yes, it was made out to GFCB but was sent to E-bullion. Yes, the funds where sent to Camarillo, California and cashed in a US Bank. Yes, E-bullion and GFCB shared an office address in Camarillo, California. That's enough in the US to state that they had an office in the US. The web host that carries E-bullion is in the US. Even if a company is web based that server is in some country and doesn't escape that countries laws. Yes, by definition they DID do business in the USA. They operated the website from Camarillo, California. Yes, the Feds shut down the website in Camarillo, California. If it wasn't in the US they could not have done that. Do you know why Gold Finger is registered in Delaware with the company being in California? It's another method to evade or pay less taxes. E-bullion is a subsidiary of Gold Finger, by law they are connected with the same owners. Please don't pretend to know how US law works whether you agree with it or not doesn't matter. All these turns and twist in this saga are getting you confused and being from another counrty you don't know how our laws work. I don't agree with it either, but it doesn't matter. But, to repeat myself again, e-bullion DID do a lot of business in the US. Do you think James flew to Panama every day to run the business? Have you noticed that everyone on the blogs that complain that E-bullion was registered in Panama and shouldn't be seized by US Feds in from outside the US? There's a reason. They don't understand.

Here is a link you need to look at:

http://images.google.com/imgres?imgurl=http://bp0.blogger.com/_X6aGbs-Em...

And here is the big but, because none of the 2 companies could and can work without the other. So Goldfingercoins website is up, but try to buy Gold, you can't because you need e-bullion. When you funded your account with e-bullion you send a check or wire transfer to Goldfingercoin, where it was received and accounted for, in their accounting as that you bought precious metal, Fayeds e-bullion account got credited for it, and he transferred the funds from his e-bullion account starting with an A.... to your e-bullion account, you never had an account with Goldfingercoin. Nobody ever transmitted funds to or from e-bullion directly.

Micinka, you are wrong again. You read things on the Internet and blogs and believe they are true. Not everything you read on the Internet is fact. Ian Lamont even wrote (Feds drop charge against James Fayed, e-Bullion still under indictment.) I'm too tired to do any more fact checking on things posted on the Internet. You cannot use blogs for your fact checking. Fayed did not run it from his home, or are you trying to tell me his employees went to his house to operate E-bullion and GFCB. Even If he ran it from his home (which I don't believe for a second) that constitutes an office in the US. GFCB and E-bullion do share a business office space no matter where it is in the US (Hint: it's in Camarillo Ca.) GFCB and E-bullion were founded in the US. You yourself already said GFCB is registered in Delaware. Just because E-bullion is registered in Panama doesn't mean it is from Panama. Most of what you are stating is all just a play on words, in the end it means nothing. It's like if I would say something is black and you say it is white, it is what it is. International law has no bearing on this case what so ever, this case is under US Law, period. And Yes, you do need to understand US Law because this case is in the US Federal Court System and no other Country. Yes, you can found a company in New Zealand, and if it is Internet based you can run it from anywhere in the world, without the necessity to go to New Zealand. But, if you break New Zealand Laws they will arrest you in New Zealand. Also, If you have the Hosting in the US they can shut you down and if your using US banks they can seize the assets. Your story about having an Agent in another country to work there is not what James Fayed was doing, you're going out into left field on this. Stick to the facts in which you have lost sight of. Your taking this conversation into directions that are irrelevant to this case, to much BS. I agree with you even though it doesn't seem so, the Feds are being unfair with E-bullion customers. Here is a question for you that I do not know, did GFCB have a license to buy and sell precious metals or e-currency, these are monetary transmittal transactions to E-bullion and probably do require one. You said, Nobody ever transmitted funds to or from E-bullion directly. James Fayed did. That is what the Courts have to sort out. If E-bullions operations where not in the US then the feds couldn't shut them down or seize the assets. It needs to be more than just registered in Panama, it has to be there. The way it was set up is not so smart it caused red flags to the Feds and then they investigated to find out what Fayed was hiding. This is the land of big Government and they are not going to let millions go through the country without tax, licenses or audits for money laundering. No other Country would either. His business model is like playing a shell game, he used loop holes in the laws. When someone does that the Courts will close those holes. I will not use bloggers for my fact checking.

Lee,

Is there a regulation(s) allowing either one of these agencies or both to withhold domestic and/or foreign assets regardless of the court decision? I seem to be having trouble locating that information.

Three things matter:
1) Incoming funds go to what account?
2) Where is the CUSTOMER located? Money transmitting rules are based on the customer's location, you can have your business in Egypt, if you have customers in the US States you are required to comply with those laws.
3) Where is the server(s) located.

How can I say they are keeping the money?

Several (4) previous cases with the exact same charge for the exact same circumstances (DGC company) Funds are 'Seized' and have never been returned. Nothing is 100% certain but in all previous, exactly similar cases, the money remains missing.

Mark

Lee, I do not read and believe everything on the blogs. I went through all the courtpapers.
THERE IS NO CHARGE AND NOT EVEN A MENTION OF E-BULLION. Ian either wrote it wrong, or the
spokesperson gave him wrong info. Check the court papers, there is no indictment of e-Bullion.
And we all know that there are 2 different companies involved. The charges were against
Fayed and Goldfingercoin & Bullion company (see Court papers). GFCB officially, sold, bought
and stored, Gold, Silver and Coins. E-Bullion is a registered legal corporate entity of the
Republic of Panama in Central America. E-Bullion hardware and servers are located at various
locations worldwide.For ease of use and to provide the ultimate in convenience for the
customers, E-bullion has engaged the services of the following FUNDING/WITHDRAWAL SERVICES:
Primary Funding and Withdrawal Services (Market-Making) are provided by Goldfinger Coin &
Bullion Inc. ("GFCB"). All national currency converted to E-Bullion and E-Bullion to
national currency is processed by Goldfinger Coin & Bullion Inc. Goldfinger Bullion Reserve
Corporation ("GBRC") is the registered legal corporate entity located in the State of
Delaware (USA) responsible for the management of bullion reserve services for E-Bullion
Company. GBRC is under exclusive contract to provide allocated and segregated storage,
acquisition and transfer of precious metals (specifically: Gold AU, Platinum PT and Silver
AG) as well as perform administrative duties relating to acquisition, insurance and liquidation
of the reserves backing E-Bullion accounts.GBRC is managed by professionals in the Precious
Metals trade with over 40 years of combined experience in trading Gold, Silver, Platinum and
Palladium. GBRC maintains wholly owned, or leased, Treasury grade bullion storage vaults in
Los Angeles, Delaware, Zurich and Australia for the allocated storage of the bullion backing
E-Bullion.All reserve bullion backing the E-Bullion.com system is allocated and remains the
property of the E-Bullion Company and E-Bullion account holders.

E-Bullion had no employees, all employees were employed by GFCB, you can check that as well
in the proper office for employment. E-Bullion itself was run by 1 person and no employees,
the 1 person was Fayed. I could run 5 such websites by myself. E-Bullion had a contract for
services with GFCB. And all I am writing are facts. Read the article Ian posted on Aug.13th,
"Court papers indicate James Fayed had absolute control over e-Bullion", and you will see that
he ran e-bullion from his house and all by himself. And Ian got all this info from court papers.
The US can investigate GFCB but not E-Bullion, that is the reason why E-Bullion is not mentioned
in the indictment, according to court papers and Ians article: Fayed indictment doesn't mention
e-Bullion, from Aug.11th. The Feds do not have jurisdiction over E-Bullion, they have
jurisdiction over GFCB.
E-Bullion had no accounts in the US, GFCB had accounts. E-Bullion Hosting or servers are all
over the world, not in the US.
Yes with the example of New Zealand, you are right New Zealands authorities can shut me down,
but not the US authorities, if I just run the company from my laptop, don't have an office,
or bank account in the US. And that is the reason why E-Bullion is not charged, and that they
now say e-bullion is evidence.
And Mark, if you have a website and you sell products and services, you do not need a license
to transmitt money, and that is what GFCB website was, they sold and bought, and provided
services for E-Bullion.
That with the agent that is everywhere even in the US, when I found a Delaware company, an LLc
or a Corporation, and I am a foreigner, I do not even need to come here, I can do everything
over the internet, but I need an Agent, whos address I am using to receive all the necessary
documents, tax papers etc., and I have to pay the agent, who sents all paperwork to me that
needs to be signed, I never have to enter the US to have a company there. And this is how
it works in most countries in the world. So the Panama company is legit, and a lot of people
use Panama because of the jurisdiction.
I never state anything from blogs, I always check out the court papers, and everything I wrote
above is right there.

if there are no charges against e-bullion, then the big question is, where the stored gold in the name of GFCB or e-bullion? if the stored gold is in e-bullion's name they can not seize them, am I correct?

Micinka, You can keep repeating things until you are blue in the face that doesn't make it fact and now your applying theory. I was only pointing out that even Ian makes mistakes in his postings. Your all capital letters are juvenile and are not necessary, I find it offensive. Also, you cannot learn American Law by reading Court Documents you have to Study US Law and Precedence. I said that GFCB probably does need a license because they were transmitting and transferring funds to Ebullion and people in the US. James Fayed did transmit and transfer funds no matter what anyone calls it, in the end the results are the same. The play on words only work until that person gets caught. If he didn't try to circumvent a Nations Laws and did everything legally there would have been no problem. Most of your arguments are irrelevant to this discussion. I didn't read the rest of your dribble and you no longer deserve a response, your kicking dead horses and it's not constructive. I'm no longer reading or responding to your posts, you just want to argue. You need to listen to Mark Herpel, he has past knowledge about these type of situations. I will not address you again, If I argue with fools after a while it becomes hard to tell us apart. EJ, Mark Herpel has the answers you are asking for, maybe he can refer you to the Court Precedence. Mark and Randy, I applaud you both.

By the way Lee, I didn't attack your personally in my previous posting, so don't attack me or call me any names, I know you are just angry, because you were wrong and I was right, but that doesn't give you the right to call me names. If you can't handle a discussion, so stop writing the nonsense, dribbling BS yourself, like a fool. Just using your words. No court case is same like another, precedence or not.

The Court Documents are not Law, they are charges, accusation and Motions that a Judge has to interpret and rule on. The Judge uses precedence and interpretation of present Laws to accomplish this and then rules on them, the Court doesn't make the Laws. Court Documents are part of the process not Law, this proves you no nothing at all about Legal Proceedings in the US. Your Attorney friend in the US should know these basics. Attorneys specialize in different aspects of Law and cannot interpret everything. Remember, we went through this when we discussed the subject of getting an Attorney with Paul Huebl. By the way, what kind of Attorney is he? All the studying I have done over the last eight years is in Financial Institutions and no one can know it all. I have done this to stay within the Laws Governing these situations while working in that field. The Feds probably did mess up, I don't deny that. But, So did Fayed With his schemes. If he would have operated within the Law instead of circumventing it there would never have been an issue, you cannot deny that. Any good Business Attorney would recommend to stay within the Law. They did arrest him early due to the murder but they were going to arrest him at some point. Pamela Fayed was working with the Feds, so even she knew it was wrong to run the business that way. Her murder, I'm not saying he absolutely did it but he has more than one motive. You didn't attack but your insulting non the less and I'm not angry at being wrong because Mark, myself and others are not wrong. There is no proof that you are correct in your postings and especially leaving the subject and going to theory as fact. A person that is angry uses all capital letters in their writing, It's perceived as yelling. Precedence shows that we are probably correct. If your so called Attorney friend thinks the Fayeds business plan was smart then maybe he should represent him and try to prove it. By the way, I didn't call you names, I was referring to your postings. The word games are foolish and are dribble. I have played no word games, Fayed, your friend and yourself have. I want my money back too, but all this is not going to get us one step closer. Lets be constructive. Oh by the way, at this point this case is not going to trial.

I totally agree EJ.

Yes there is a way to run a business like that, by yourself, 2 hours in the morning and 2 hours in the afternoon and thats it. The system is totaly automated, you just need to check the transactions. You can run an Internetbank all by yourself. E-Bullion didn't have to employ any people, they contracted services from GFCB, like telephone services, delivery services, accounting services, storage services, etc. As a Foreign company you can contract services from any US company, for a contracted fee or charge.
Nobody pretended that E-Bullion is in Panama, E-Bullion is a registered Company in Panama, that is a fact and proven and official. Physicaly he can conduct his business from his computer from anywhere in the world, that doesn't change the fact the company is still a Panama company, and taxes are paid in Panama. (Thats why I compared the New Zealand company above). Some of the court documents are charges, motions, and some are judges decisions, but if you charge somebody with a crime, there is a law according which, the authorities have to charge you, and naturally they have to prove that in a court of law.
There are a lot of attorneys all over the world, who's job it is to find loopholes in any law, and they are getting paid a lot of money if they find one, which is useable. The lawmakers then have to find a way to close this loophole, but it takes them usually a long time. In the mean time that loophole can be used legaly until the law is changed and approved through the law makers process.
Nobody can charge them before that for anything, since the law didn't exist.
You are saying that Pamela Fayed was working with the Feds, well by the way, Mark Herpel had this on his website: quote The government also alleged that Mrs. Fayed sought to cooperate with the government on or about June 24, 2008. District Court Judge Otis D. Wright II, however, struck that statement from the prosecutor’s pleadings as unfounded. Unquote.
I sure hope the case goes to trial soon, as everybody is entitled to a speedy trial.

Hosting Company for Goldfinger FYI OrgName: Savvis
OrgID: SAVVI-3
Address: 3300 Regency Parkway
City: Cary
StateProv: NC
PostalCode: 27511
Country: US

NetRange: 209.144.0.0 - 209.144.255.255
CIDR: 209.144.0.0/16
NetName: SAVVIS4
NetHandle: NET-209-144-0-0-1
Parent: NET-209-0-0-0-0
NetType: Direct Allocation
NameServer: NS1.SAVVIS.NET
NameServer: NS2.SAVVIS.NET
RegDate: 1997-09-18
Updated: 2007-09-18
Hosting Company for E-bullion OrgName: Prolexic Technologies, Inc.
OrgID: PROLE
Address: Prolexic Technologies
Address: 1930 Harrison Street
City: Hollywood
StateProv: FL
PostalCode: 33020
Country: US

NetRange: 209.200.128.0 - 209.200.191.255
CIDR: 209.200.128.0/18
NetName: PROLEXIC
NetHandle: NET-209-200-128-0-1
Parent: NET-209-0-0-0-0
NetType: Direct Allocation
NameServer: NS1.PROLEXIC.NET
NameServer: NS2.PROLEXIC.NET
RegDate: 2004-06-25
Updated: 2007-06-27

Lee,

Even if Fayed's business model brings up concerns especially with tax evasion, it won't deter the IRS from collecting tax from e-bullion. Generally, a company that is registered outside the U.S. would be liable to pay tax to IRS if operated somewhere in the U.S. In addition, it would also pay tax to the government of a country where it was originally registered. That is the drawback that I see in his business model. His company could be seen by the IRS as an American company based on Fayed's citizenship or a Panamaian company registered in Panama, owned by a U.S. citizen, and conducted on an American soil. That said, there is no way Fayed's company can evade tax in this country just as the Panamaian government would know where to locate him should he avoid paying them taxes. This is not something that the office of the U.S. Attorney would be concerned about.

E-Gold was a US company.

GFCB paid taxes in US.

micinka you not right, e-gold was/is a Nevis company, as e-bullion is a panama company, both had the same business model, e-bullion had GFCB is the US and e-gold had omnipay, that is why they should have correct their business model after they saw what happened to e-gold.