E-Gold, Limited, an affiliated digital currency company, Gold & Silver Reserve, Inc., and their three principals, have been indicted in US District Court in Washington on money laundering and unlicensed money transmitting business charges. E-Gold, an alternative payment system allegedly backed by three tonnes of gold bars, allowed users to enroll without any customer identification, and to freely transfer their wealth, convertible to and from currency, on a global basis. The firm's services were allegedly used by investment fraudsters, in credit card scams, by identity fraudsters, and to facilitate sales of child pornography.

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