03-19-2013, 12:11 PM
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The People's Post
Industry Role:
Join Date: Dec 2008
Location: invisible 7-11
Posts: 61,646
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Quote:
Originally Posted by crucifissio
anon transfers=money laundering
it will never work on a large scale...has been tried before there is nothing new or revolutionary about bitcoins...
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i see, could be, i'm not familiar enough with the legalities of it all but if a gov wants to shut something down, it's just a matter of putting a case together.
but it does seem the e-gold management was complicit in the money-laundering, check this out
Quote:
In April 2007, the US government ordered e-gold administration to lock approximately 58 e-gold accounts, including ones owned by The Bullion Exchange, AnyGoldNow, IceGold, GitGold, The Denver Gold Exchange, GoldPouch Express, 1MDC (a Digital Gold Currency, based on e-gold), and forced OmniPay's owner, G&SR, to liquidate the seized assets.[14] A few weeks later, e-gold itself was indicted on four counts. [15]
The essence of the allegations in the indictment is twofold: (1) e-gold is an unlicensed money transmitting entity as defined by United States Code;[16] and (2) e-gold was a de facto means of moving money from illegal activities to wit: high-yield investment programs which are Ponzi scams, credit card and identity fraud sites and retailers of child pornography.
The indictment alleges that the defendants knew of illegal activity associated with accounts and recorded it in the e-gold database with notations such as "child porn", "scammer", and "CC fraud".[17] Additionally, it alleges that while e-gold placed "value limits" on certain accounts suspected of criminal activity, they suggested that the owner open a new account, placing no restrictions on their ability to move funds out of the original account.
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