Just wondered how you would go about deciding which outexchanges were "ill
gotten gains"? Eric said he did verify ID, address, etc., what more would
you need to assure yourself that it was "clean" money? Do you really want
to start a serious "know your customer" thing like the banks?
Gary
----- Original Message -----
From: Frank Zuchristian <[EMAIL PROTECTED]>
To: e-gold Discussion <[EMAIL PROTECTED]>
Cc: e-gold Discussion <[EMAIL PROTECTED]>
Sent: Thursday, July 05, 2001 2:07 PM
Subject: [e-gold-list] RE: E-Gold to Paypal
> Eric,
>
> I agree fully with you. It would be rather nice if we
> could check out a new outexchange client, perhaps then
> we could stop them from getting at their ill gotten
> gains, that would certainly slow down the amount of
> fraud.
>
> Obviously this requires assistance from the providor's
> to do, can we expect any assistance?
>
> Frank,
> Euro Gold Line
>
> --- "Eric J. Gaither" <[EMAIL PROTECTED]> wrote:
> > Gentlemen,
> >
> >
> > May I be so rude as to interject?
> >
> > >There is zero risk in outexchanging E-Gold and you
> > have to get it from
> > > somewhere.
> >
> > I must disagree with you on this point.
> > Technically, there is no
> > *immediate* risk on outexchanges because the
> > transaction is non-reputiable,
> > agreed. However, due to the large numbers of
> > scammers who hide in e-gold
> > (auction scammers, "program" scammers, pyramid
> > promoters, for instance)
> > there is a LARGE *associated* risk in outexchanging
> > e-gold.
> >
> > For example, I attempted to assist in the refund
> > process for Eurocredits
> > (monies were to be refunded from E-Biz investors) by
> > facilitating transfers
> > from "eurocredit dollars" to Standard Reserve
> > currency. Gary Stroud of
> > EuroCredit bank was to exchange the "eurocredit
> > dollars" for USD to wire to
> > my company in exchange for his clients transfers to
> > SR currency. Rather
> > than sending USD from EuroCredit bank, he liquidated
> > e-gold holdings and had
> > a wire for $9715 sent to my company informing me
> > that he simply wanted to
> > "cash out" of e-gold before using the USD backing
> > EuroCredits. This seemed
> > logical as he claimed to have holdings in several
> > digital currencies and
> > owned several large companies. His ID, phone
> > numbers, and physical addresses
> > all were verifiable.
> >
> > Three weeks later I have received calls from the
> > SEC, the Superior Court
> > of Western Oklahoma, the court appointed receiver
> > AND the prosecutor from
> > the case Gary Stroud is involved in. It appears
> > that the e-gold holdings
> > Gary Stroud "liquidated" was really just more e-gold
> > he scammed out of new
> > "investors" for more programs he was promoting. He
> > was never able to produce
> > USD from EuroCredit bank. It appears that
> > "eurocredit dollars" are the
> > equivalent of Monopoly money. (You know, nice to
> > look at, fun to play with
> > and imagine spending, but ultimately worth less
> > than the paper it was
> > printed on.)
> >
> > So, just because a transaction is
> > "non-reputiable" (non-reversible) does
> > not mean it does not have risk associated with it.
> > Scammers, con-artists,
> > and simple thieves are well acquainted with the
> > rules of e-gold and
> > frequently use those rules to their advantage. As a
> > Market Maker, we are
> > then left in the "sticky" situation where we are
> > sometimes unknowingly duped
> > into helping a criminal outexchange funds taken from
> > a victim. (The auction
> > scammer is a prime example!)
> >
> > Now more than ever Outexchange transactions need
> > to have as much (if not
> > MORE) Due Diligence completed as Inexchange
> > transactions. Completing
> > outexchanges for people can sometimes drop their
> > "dirty laundry" right on
> > top of your unsuspecting head.
> >
> > Thanks for listening.
> >
> > Eric
> >
> > Eric Gaither, President
> > Gaithmans Gold Nation, Inc.
> > (317) 788-8580 Voice
> >
> > [EMAIL PROTECTED]
> >
> > http://businesses.msn.com/gege/
> >
> > Gaithmans: your ultimate e-currency exchange service
> > provider!
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