Crowne Gold

P. Carl Mullan
Additional contact information
P. Carl Mullan: Digital Currency Intelligence Authority Ltd.

Chapter Chapter 5 in A History of Digital Currency in the United States, 2016, pp 153-170 from Palgrave Macmillan

Abstract: Abstract Crowne Gold grew from a small offshore services provider, named 3PGold, into a US payment processor of fraudulent investment monies for a $300 million HYIP Ponzi scheme known as Evolution Marketing Group (EMG). Throughout Crowne’s existence, the online business offered unregulated digital currency products and unlicensed financial services. Executives at the company continually defended themselves against legal charges, asset seizures, and government accusations that Crowe Gold was a money transmitter. Crowne Gold closed a week after the principals of e-gold pleaded guilty to money laundering charges. During the company’s final days, the executives of Crowne Gold experienced substantial government asset seizures based on its operation as an unlicensed money transmitter.

Keywords: Crowne Gold; Terry Neal; Sean Trainor; Finanzas Forex; Evolution Marketing Group; EMG; Digital gold; 3PGold; Gold bullion sales; Money transmitter business; Offshore (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:paiecp:978-1-137-56870-0_5

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137568700

DOI: 10.1057/978-1-137-56870-0_5

Access Statistics for this chapter

More chapters in Palgrave Advances in Economics of Innovation and Technology from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().