Thursday, November 17, 2011

BREAKING: E-Bullion Founder James Fayed Sentenced to Death

Back in May, Camarillo businessman James Fayed was found guilty of first-degree murder in a Los Angeles courtroom over his involvement in a plot to kill his wife Pamela. The story drew our interest because Fayed and his wife once ran the digital gold currency e-Bullion. Though they hold fascinating potential as an alternative to the mad ways of the Federal Reserve, digital currencies are still vulnerable to scam artists, and in 2008, James Fayed was arrested by federal agents on charges of running an illegal money-transfer operation. The indictment created a bitter rift between the Fayeds, who filed for divorce and accused each other of embezzling large sums from their business. Pamela Fayed chose to cooperate with authorities, but was killed in a Century City parking garage by men her husband had hired. And today, the Beverly Hills Courier reports that Fayed has received the death sentence for his crimes, after Superior Court Judge Kathleen Kennedy rejected defense requests for a new trial and a reduction to life in prison.


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