Petition forms are currently under review and the Remission Administrator anticipate sending notices to those petitioners with deficient petitions in the coming months.
Petition forms and notices were mailed to potential petitioners on July 9, 2013 with a claims deadline of September 7, 2013.
e-Bullion was a web-based money transmitting business operated by James Michael Fayed. e-Bullion allowed individuals to deposit money and purchase virtual “e-currency” that was purportedly backed by precious metal reserves maintained by Fayed’s companies in the United States and Australia. Accountholders could use e-currency to trade in goods and services with other accountholders. Federal investigators determined that many operators of fraudulent investment schemes used e-Bullion to collect millions of dollars from victims, much of which was wired to overseas accounts.
In May 2011, Fayed was convicted of murdering his wife and is currently awaiting execution on California’s death row. On July 30, 2012, the United States Attorney’s Office for the Central District of California obtained a judgment in federal district court that resulted in the forfeiture of approximately $3.6 million in bank funds and $5.4 million worth of gold, silver, and platinum seized from two entities formerly controlled by Fayed – Goldfinger Coin and Bullion (GCB) and Goldfinger Bullion Reserve Corp (GBRC). In a related matter, the Australian Federal Police obtained a judgment resulting in the forfeiture of approximately $13 million in precious metals that were purchased and stored by Fayed in the Perth Mint in Australia. The funds forfeited in the Australia matter are also expected to be distributed to qualified e-Bullion accountholders through this remission process.
For further information about the e-Bullion remission process, please click the links on this page for the Petition Form, Case Documents, and Frequently Asked Questions.