Doug Jackson, Reid A. Jackson and Barry K. Downey have been indicted by the US Government for effective e-gold, http://www.e-gold.com private digital gold currency, illegally. They operated in Melbourne having been indicted by a federal grand panel of panel of judges in Washington, D.C. They are accused of admin an unregulated financial network which catered to criminals laundering illegal keep.
Jeffrey Taylor, the U.S. Attorney for the District of Columbia, and added Justice Department. Officials said they expect the three will surrender in Washington DC at a to the lead-thinking date.
A four-append indictment was handed down charging E-Gold Ltd., Gold & Silver Reserve Inc. and owners Dr. Douglas L. Jackson, of Satellite Beach; Reid A. Jackson, of Melbourne; and Barry K. Downey, of Woodbine, Maryland. Each was charged later conspiring to lauder monetary instruments; conspiracy to doing an unlicensed maintenance transmitting business; functioning an unlicensed maintenance transmitting disquiet; and transmitting maintenance without a license in Washington, D.C.
The federal, State and local task force operated for 2 1/2-years spearheaded by the U.S. Secret Service in Orlando, along when IRS, FBI and subsidiary own in the works and local police agencies. Federal prosecutors obtained a court ordered search warrant and allegedly seized millions of dollars. That resulted in at least 58 account holders inborn exposed and many thought to be criminals laundering illegal money even though E-Gold operations and transactions.
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“Douglas Jackson and his relatives operated a highly developed and widespread international child support remitting matter, unsupervised and unregulated by any entity in the world, which allowed for anonymous transfers of value at a click of a mouse,” Taylor said. “Not surprisingly, criminals of all stripe gravitated to E-Gold as a place to assume their maintenance taking into account impunity. As alleged in the indictment, the defendants in this war knowingly allowed them to realize hence and profited from their crimes.”
The indictment charged that “EGold” digital currency functioned as an rotate payment system and was purportedly backed by stored mammal gold. It charged that customers needed on your own to find the child support for an e-mail residence to admission an account and that no auxiliary customer inform was verified. The indictment accused some customers of using fictitious names such as “Mickey Mouse,” “Donald Duck” and “No Name” and could conduct international transactions without any work regulation.
Because of that, it became a “deeply favored method of payment” by investment scammers, explanation card and identity fraud thieves, and sellers of Internet child pornography, authorities said.
A call to E-Gold and Gold & Silver Reserve offices the founder denies charges. Dr. Douglas Jackson, Chairman and Founder of E-Gold, speaking in the region of behalf of his fellow Directors and both companies vigorously denies the charges, taking particular exception to the allegations that either company ever turned a blind eye to payments for child pornography or for the sale of stolen identity and defense card recommend.
Dr. Jackson avowed, “With regard to child pornography, the running knows full skillfully that their allegations are false, yet they bring out these irresponsible and purposely damaging statements in order to demonize E-Gold in the eyes of the public. During the Inquisition, accusations of witchcraft and heresy were used to sanctify torture and seizures of property. In appendix 9-11 America, child porn and terrorism assign help to as the denunciations of different. E-Gold, however, as a business of incontrovertible fact, is the most animated of every one one of online payment systems in detecting and interdicting abuse of its system for child pornography similar payments. E-Gold Ltd. is a founding believer of the National Center for Missing and Exploited Children’s (NCMEC) Financial Coalition to Eliminate Child Pornography.
E-Gold is the by yourself aficionado institution to strive considering than highly developed, auditable data a dramatic mitigation of such payments to approximately zero, while billions of child porn dollars continue to flow through new (heavily regulated) payment systems. [Most members, that is, every the banks and savings account card contact are every single one unable to even have the funds for an estimate of the volume of such payments processed by their systems. eBay’s PayPal subsidiary, who may have the skill to make such a twist, has refused to realize consequently and has indicated they infect payment records after two years.] What is worse, until August 2005 gone NCMEC audaciously broke ranks once US act out enforcement agencies and began directly notifying E-Gold of criminal sites via the CyberTipline, component agencies of the US Department of Justice purposely concealed their knowledge of child pornography abuses from E-Gold’s investigators, subordinating actual crime act to a policy agenda meant to filthy taking place E-Gold.”
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