Wednesday, August 20, 2008

US Attorney: Terrorist Link to Some Goldfinger Bullion Money Transfers

The murder of Pamela Fayed , the subsequent arrest of James Fayed for operating a money transmission business without a license and the government seizure of some millions of dollars in gold bullion, now appears to be simply the surface story as the first details emerge of terrorist links to the movement of some money through Fayed's firm.

It appears that the arrest of Fayed on charges that he ran a money transmitting business through Goldfinger Coin & Bullion and also through eBullion without proper licenses may have been a forced hand of prosecutors because of the murder of Pamela Fayed (and their belief that James Fayed was responsible for the murder of his wife, possibly killed by James Fayed's brother).

According to a filing made this week by attorneys for Fayed, Godfinger Coin and Fayed may not have been be the targets "of a long standing" FBI and IRS investigation in which Assistant U. S. Attorney Mark Aveis told a US District court magistrate back in February, in a sworn statement, that Goldfiner and eBullion were highly visible going concerns and that an indictment at the time should be sealed, so that "real-time monitoring of the flow of criminal proceeds could continue.".

Aveis added that the indictment of Fayed and Goldfinger were " one of several steps in a long-term investigation by the FBI and IRS regarding fraud, money laundering and terrorist financing..."

With some $24 million in gold bullion involved, there's room for all sorts of funny transactions.In fact, the filing states that in the past 36 months, Fayed had cooperated on numerous investigations with various government agencies, including the SEC, the CFTC, US Attorneys in Connecticut, Nevada and Washington, the FBI, the FTC and state and local governments.

The filing states that since its inception in 2001, eBullion has had over 466,300 users accounts.

One promising bit of news for those with gold accounts with Goldfnger or eBullion, the filing states that the government seized $24 million in gold and silver, which suggests that account holders may eventually receive some, if not all, of their original investment.

Link to filing via Crimes, Guns and Videotape.

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