Monopoly money protected in desperation

A grand jury in Washington, D.C., has indicted two digital currency companies and their owners on charges of money laundering, accusing the companies of helping to fund illegal activities like child pornography and identity theft, the U.S. Department of Justice announced Friday.


The four-count indictment, handed down on April 24 and unsealed Friday, targets E­Gold; Gold & Silver Reserve; and their owners Douglas L. Jackson, of Satellite Beach, Florida; Reid A. Jackson, of Melbourne, Florida; and Barry K. Downey, of Woodbine, Maryland.

The defendants face charges on one count of conspiracy to launder monetary instruments, one count of conspiracy to operate an unlicensed money transmitting business, one count of operating an unlicensed money transmitting business under federal law, and one count of money transmission without a license under D.C. law.

The DOJ also obtained a restraining order to prevent the defendants from unloading their assets as well 24 seizure warrants on more than 55 accounts believed to be property involved in money laundering and the operation of an unlicensed money transmitting business.

The restraining order does not limit the E­Gold operation’s ability to use its existing funds to satisfy requests to exchange E-Gold into national currency for customers of nonseized accounts or its ability to sell precious metals, the DOJ said.

Another step in the control of the gummint
'monopoly' [of] money.

If they didn't, Gresham's Law would rule.

It will anyway, eventually.

Read.