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Author Topic: Egold has deleted all Iranian Cuba and North Corea accounts!  (Read 478 times)
Ivaho
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« on: January 13, 2007, 04:34:42 AM »

E-gold has deleted all accounts from anti-US countries like Iran, Cuba North Corea.
I think that it`s unfair that e-gold has deleted their accounts without refund.
What do you think guys?
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« on: January 13, 2007, 04:34:42 AM »

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Rednek401k
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« Reply #1 on: January 13, 2007, 04:55:52 AM »

E-gold has deleted all accounts from anti-US countries like Iran, Cuba North Corea.
I think that it`s unfair that e-gold has deleted their accounts without refund.
What do you think guys?

I thought they were just suspended?

What happens to programs that are running and the Government finds investors from one of those countries, does it shut down the program?

Pro-Investment just opened their Iranian branch before it disappeared...
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Ivaho
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« Reply #2 on: January 13, 2007, 08:33:22 AM »

Government is not the same that e-gold. Try to create new e-gold account, you will be not able to select Cuba, North Corea or Iran. All accounts selected from these countries have been deleted or suspended. I am worrying that they didn`t refund their customers from these countries. E-gold should not be working like a thief.

e-gold is registered in Nevis that they should be protected from the U.S. government’s intervention.
There should be no legal way for FBI to investigate the company. FBI can only investigate E-Gold’s storage suppliers in the US (The Brink’s Company) and that has nothing to do with use of E-Gold service. Of course they can investigate accounts with permission from E-Gold.

This is amazing, how US politics has entered to e-gold.
Tomorrow maybe they will delete e-gold accounts from my country, who knows?
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Rednek401k
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« Reply #3 on: January 13, 2007, 09:36:39 AM »

I found the email talking about what happened...

Quote
E-gold: The "Iranian Issue"
(from Capitalex.com)

According to http://www.e-goldstrong.com, on November 24 e-gold suspended the
accounts of all its Iranian users. When contacted by an Iranian user, an
anonymous e-gold representative known as "Service 2" sent the following reply:
Your account has been frozen in compliance with the laws which govern e-gold,
Ltd. and its managers. e-gold, Ltd. has taken this step in strict compliance
with the law.

No further information is available at this time. When additional information is
available it will be provided upon account login.

Thank you,
Service 2

It is likely that the Office of Foreign Assets Control (OFAC) forced e-gold to
freeze all Iranian accounts. This would be in accordance with OFAC regulations
in regards to Iran, which can be read at http://www.treas.gov/offices/enforcement/ofac/programs/iran/iran.pdf

Excerpt:
EXPORTS TO IRAN - In general, unless licensed by OFAC, goods, technology
(including technical data or other information subject to Export Administration
Regulations), or services may not be exported, reexported, sold or supplied,
directly or indirectly, from the United States or by a U.S. person, wherever
located, to Iran or the Government of Iran. The ban on providing services
includes any brokering function from the United States or by U.S. persons,
wherever located. For example, a U.S.
person, wherever located, or any person acting within the United States, may not
broker offshore transactions that benefit Iran or the Government of Iran,
including sales of foreign goods or arranging for third country financing or
guarantees.

It has been pointed out that e-gold is a Nevis corporation and therefore not
subject to US laws. However, e-gold is administrated from within the US, by
"U.S. persons", and therefore falls under this regulation.
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