I’ve got bad news for you e-Bullion users. E-Bullion’s Jame Fayed (co-founder along with is now deceased wife) was refused bail. This is another bolder in the path of a speedy recovery for e-Bullion. My opinion is that e-Bullion is history. I also think that it would be best if all all assets were to be liquidated and refunds issued to all customers. Kudos to tdinoz-td’s blog and the DGC Blog as I first found out about this from those two websites.
Here is an excerpt from the news release:
Los Angeles — The estranged husband of a woman who was stabbed to death in Century City was ordered jailed without bail Wednesday on a charge of operating a financial business without a license, with a federal judge citing the “grave” risk that he could flee the country.
U.S. District Judge Otis Wright overruled an earlier decision by a federal magistrate judge setting James Michael Fayed’s bail at $500,000.