E-Gold Meltdown

We received the following message today from Capital Conservator

Another indictment, handed down on October 30, 2007, charges E-Gold Ltd; Gold & Silver Reserve, Inc.; and their owners Dr. Douglas L. Jackson, of Satellite Beach, Fla.; Reid A. Jackson, of Melbourne, Fla.; and Barry K. Downey, of Woodbine, Md., each with one count of conspiracy to launder monetary instruments.

Subsequent to the indictment, the Department of Justice has seized all physical gold assets stored in Panama until future notice. The case is being investigated by the U.S. Secret Service with the assistance of the IRS and the FBI. The case is being prosecuted by the U.S. Attorney`s Office for the District of Columbia and the Computer Crime and Intellectual Property Section of the Criminal Division. An indictment is merely an accusation and the defendants are presumed innocent unless and until proven guilty.

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