E-Gold directors escape jail time with guilty plea

Jordan Golson — Fri, 21 Nov 2008 19:11:18 -0500

The three indicted directors of E-Gold have been spared jail time after pleading guilty to violations of money laundering and running an unlicensed money transmitting business. Judge Rosemary Collyer said the men deserved lenient sentences because they did not intend to engage in illegal activity.

Douglas Jackson was sentenced to 300 hours of community service, a $200 fine, and three years supervision including 6 months home restriction with an electronic monitoring anklet. The judge spared him a larger fine because Jackson is deeply in debt. "Dr. Jackson has suffered, will continue to suffer, and may never be successful with E-Gold," said the judge.

The two other defendants, Reid Jackson and Barry Downey were each sentenced to three years of probation, 300 hours of community serice and $2,600 in fines and fees.

The company, which in July plead guilty to criminal charges related to money laundering, will be allowed to continue operation pending licensing by the various states in which it operates.

E-Gold directors escape jail time with guilty plea

Jordan Golson — Fri, 21 Nov 2008 19:11:18 -0500

The two other defendants, Reid Jackson and Barry Downey were each sentenced to three years of probation, 300 hours of community serice and $2,600 in fines and fees.

The company, which in July plead guilty to criminal charges related to money laundering, will be allowed to continue operation pending licensing by the various states in which it operates.

E-Gold directors escape jail time with guilty plea

Jordan Golson — Fri, 21 Nov 2008 19:11:18 -0500

The two other defendants, Reid Jackson and Barry Downey were each sentenced to three years of probation, 300 hours of community serice and $2,600 in fines and fees.

The company, which in July plead guilty to criminal charges related to money laundering, will be allowed to continue operation pending licensing by the various states in which it operates.