As I mentioned in this post, e-gold has indeed plead guilty the money laundering and illegal money transmitting charges brought forth against it. Dr. Douglas Jackson along with other key e-gold principals and personnel face heavy sentences. For example e-gold’s founder could be put away in jail for up to 20 years!
Excerpt from PRNewswire news release follows:
WASHINGTON, July 21, 2008 /PRNewswire-USNewswire via COMTEX/ — E-Gold Ltd. (E-Gold), an Internet-based digital currency business, and its three principal directors and owners, pleaded guilty to criminal charges relating to money laundering and the operation of an illegal money transmitting business, Acting Assistant Attorney General Matthew Friedrich for the Criminal Division and U.S. Attorney for the District of Columbia Jeffrey A. Taylor announced today.
This is just a sample. To read the full news release click over here.