PC World reports in this latest article that the three owners of E-Gold, an internet-based payment service like PayPal, have pleaded guilty to charges related to money laundering. The violations include operating a money transmitting business without a license. E-gold, which provided digital currency services, allowed accounts to be opened without verification of user identity. According to the Department of Justice, many E-gold users were using its services for criminal activity, investment scams, identity theft, and credit card fraud. All three owners face potential prison time and fines ranging from $25,000 to $500,000.
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