Oh my! Look at this bit of news I came across. The Co-founder of e-Bullion, James Fayed, is suspected of murdering his wife (who is the other co-founder.) I stress the word suspected as so far he has NOT been formally charged yet.
Apparently the couple were going through a messy divorce and court documents showed that $12 million dollars in assets were up for grab. Also U.S. attorney Mark Aveis said Fayed told his wife, “I could have you killed and my hands would be clean.” He said the defendant then made a motion as if he were wiping his hands, according to an account Pamela Fayed gave a friend. I don’t know, but a suspicious mind could easily jump to the conclusion that somehow James Fayed is involved. We will have to wait for more info to come out.
If you think that’s bad, it’s only the beginning folks. If you read deeply into the article you’ll learn that James Fayed is in federal custody on a money-transferring charge. Ad that to the fact that Goldfinger Coin & Bullion Sales does not have a money transmitter license and I fear this will result in a similar legal battle as that of e-gold. Now I really wonder what e-Bullion’s future could hold. Could this be the beginning of the end for e-Bullion?
Note: I will make another post with more details relating to the money-transmitter charge against James Fayed.
Man’s credit card linked to car at wife’s killing
(Published August 05, 2008)LOS ANGELES — A wealthy gold trader’s credit card was used to rent the vehicle seen at the scene of his estranged wife’s killing last week, police and a federal prosecutor said Monday.
Police said James Fayed, who is in federal custody on a money-transferring charge, is a suspect in his wife’s killing but has not been charged. Fayed appeared in court Monday for an arraignment hearing in which Assistant U.S. Attorney Mark Aveis argued against bail for the businessman based on the credit card finding.
Aveis said police found a credit card at Fayed’s home in Moorpark that was linked to a vehicle seen on a security camera tape of the parking garage where his wife Pamela was killed. The car was traced to an Avis car rental office.
A judge set James Fayed’s bail at $500,000 but stayed his decision until Wednesday to give prosecutors a chance to appeal.
James Fayed’s attorney, Mark Werksman, said the evidence that Aveis read into the court record was “uncorroborated hearsay” because it was from an FBI report written by an agent who heard the information second-hand from police.
Police Detective Mike Pelletier confirmed the credit card had been linked to the vehicle at the murder scene and “wasn’t pleased” that so many details about the police investigation came out at the arraignment hearing.
Fayed, who co-owned the gold-trading company Goldfinger Coin & Bullion Sales with his wife, was arrested Friday on a felony charge of operating a money transfer business without a license. His arrest came three days after his wife was stabbed to death in a Century City parking garage. Aveis said she had just met with her husband and their attorneys to discuss their divorce when a perpetrator who was “lying in wait” stabbed her repeatedly.
The man fled the scene and no arrests have been made. Pelletier said Fayed is one of at least two suspects.
The Fayeds had been fighting for control of their jointly-owned gold trading company and an associated Internet firm e-Bullion during divorce proceedings.
Aveis said James Fayed’s international business was an unlicensed scheme that netted $20 million worth of individuals’ investments. Goldfinger and e-Bullion provide trading services to people who want to invest in precious metals without the cost of storing, insuring and transporting bullion. The companies have vaults in Los Angeles, Delaware, Switzerland and Australia and act as wholesalers.
Police also seized $3 million in gold bullion, $60,000 in cash, 25 assault rifles and thousands of rounds of ammunition at Fayed’s house.
The federal grand jury indictment was returned in February. Werksman said it was unsealed Friday in response to Pamela Fayed’s death.
If you wish to discuss all thing e-bullion related, I invite you to join my new forum and open up a thread. I’d really like to get some feedback on what you folks think the future will hold for e-Bullion. Here is the forum link:
I already started a thread about James Fayed’s murder suspect case over here.