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  1. #1

    wtf is E-Gold doing?

    Hi WHT people,
    2 days ago we (Most iranian people) have been notified that our e-gold accounts does not work any more! when we try to login, it says wrong username or password.
    When other people try to send money to our accounts, it says the account does not exist!!!!!!!!!!!!!!

    We tried to contact e-gold by email and telephone, but no answer since it was saturday and sunday.
    Today we contacted them and all of us, I say again all of us got the same response from them as following:

    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.

    --- end words

    Thank you,
    Ok, maybe me, my friend, my friend's friend made any mistake and account has been suspended, but not all of iranian users!
    when we ask is there any political issues? they say "we don't know, we can't say anything about it."
    if we ask more, they hang up the phone!

    Since e-gold was the only famous online payment system available to iranians, most iranians had account there and also, since it's the way to invest in forex, most of accounts had more than 1,000$ in them!
    Now, all iranian accounts have been frozen without any notification and all the money is blocked and e-gold do not provide any answer!

    If you check e-golds terms of service, you can NOT find any line says "Iranians are not allowed to apply" or such things, e-gold says regularly "all international customers are welcomed."

    They're really robbing our moneys!

    Anyone has any idea what can we do in this situation?

    Thanks
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  2. #2
    it can be an alarm for other egold account holders that egold can close accounts easily without any explanation

  3. #3
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    It might be because countries are starting to launch trade embargos against Iran.
    Patron: I'd like my free lunch please.
    Cafe Manager: Free lunch? Did you read the fine print stating it was an April Fool's joke.
    Patron: I read the same way I listen, I ignore the parts I don't agree with. I'm suing you for false advertising.
    Cafe Owner: Is our lawyer still working pro bono?

  4. #4
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    http://www.omnipay.com/aboutus.asp

    Gold & Silver Reserve, Inc. (G&SR), a Delaware Corporation, developed and deployed the e-gold payment system in 1996, and through 1999 administered both payment settlement and currency exchange. In January 2000, the core e-gold roles of Issuance and Settlement were devolved to e-gold Ltd., a Nevis W.I. company created specifically to serve as the General Contractor responsible for performance of the e-gold Account User Agreement. This separation of roles was designed to further assure e-gold’s freedom from default risk and finality of settlement by dissociating the e-gold Issuer from business risks relating to exchange.

    G&SR, Inc. continues to serve as Operator of the e-gold payment system, as well as offering its own innovative set of hybrid currency exchange services, known as OmniPay.

    Our Operations Offices are located in Florida, USA and may be contacted as follows:

    E-mail use our online support form
    Phone (Worldwide) +1 321-956-1200
    FAX (Worldwide) +1 321-951-0790

    Postal Mail G&SR/OmniPay
    175 E Nasa Blvd, Suite 300
    Melbourne, FL 32901
    E-Gold is a US based company and the US has imposed sanctions several years ago limiting the dealings US businesses can have with Iranians

    http://treas.gov/offices/enforcement.../iran/iran.pdf


    I'm not 100% this is why your account was shut down, and I cannot see any press releases or news articles about them being suspended on Google. But this is my best guess..
    -Mat Sumpter
    Director, Product Engagement
    Penton Media

  5. #5
    when you want to sign up anywhere, you check their country or their terms of service?
    E-Gold always says "international customers are welcomed!"


    If it's embargo on Iran, why did they accept money from Iran?
    They shouldn't rob iranian people money!
    I thought US says embargos are on Iran's government, we love Iranian people. seems these are just fake propaganda!
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  6. #6
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    Quote Originally Posted by IR5
    when you want to sign up anywhere, you check their country or their terms of service?
    E-Gold always says "international customers are welcomed!"


    If it's embargo on Iran, why did they accept money from Iran?
    They shouldn't rob iranian people money!
    I thought US says embargos are on Iran's government, we love Iranian people. seems these are just fake propaganda!

    I know of several companies that started doing business and never excluded customers from forbidden countries. Then all of a sudden they get a letter from the federal government saying they were in violation and subject to huge fines. They have always cut off the Iranian customers with little or no warning. Most companies are not familiar with international trade rules that vary based on country and region.

    Quote Originally Posted by IR5
    I thought US says embargos are on Iran's government, we love Iranian people. seems these are just fake propaganda!
    OTHER BANKING SERVICES - U.S. depository institutions, including
    foreign branches, are prohibited from servicing accounts of the Government
    of Iran, including banks owned or controlled by the Government
    of Iran (as in Appendix A) or persons in Iran. However, they are
    authorized to pay interest, deduct reasonable and customary service
    charges, process transfers related to exempt transactions, such as the
    exportation of information or informational material, a travel-related
    remittance, or a payment for the shipment of a donation of articles to
    relieve human suffering or, at the request of an account holder, effect
    a lump sum closure of an account by payment to its owner. They may
    not otherwise directly credit or debit Iranian accounts.
    Last edited by Mat Sumpter; 11-27-2006 at 04:34 PM.
    -Mat Sumpter
    Director, Product Engagement
    Penton Media

  7. #7
    Quote Originally Posted by The_Prohacker
    I know of several companies that started doing business and never excluded customers from forbidden countries. Then all of a sudden they get a letter from the federal government saying they were in violation and subject to huge fines. They have always cut off the Iranian customers with little or no warning. Most companies are not familiar with international trade rules that vary based on country and region.
    so you mean it was their right to block our money?
    What you say may look correct about small companies or non-banking companies, but E-Gold is supposed to be an online banking system (or what you call them), they must not make such mistakes.
    It's not our fault that they're not familiar with international trade rules.

    persons in Iran
    So it seems it's just fake propaganda and U.S. is telling us lies in VOA persian channel or other type of propaganda they're using!
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  8. #8
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    so are these people going to get their money back?

    i find it suspicious that egold would allow them to have an account and then suddenly just cancel it and not refund money.
    if you haven't considered chapter 7 bankruptcy, maybe you should.
    eliminate your debt, keep the property you want, most people qualify.
    contrary to popular belief - no attorney is necessary!

  9. #9
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    Sounds like a sweet money grab scam.

    Let people sing up from certain countires.
    Wait till there is enough money in their accounts
    Close the accounts.
    Pleade ingorance when asked about the closures.
    Profit!


    + NOW WE'RE MAKING RECORDS, NOW WE'RE MAKING TAPES

  10. #10
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    I don't know.. I'm very skeptical to who I allow handle my money. sure e-gold seems legit, but when you break it down, it's shady as hell.

  11. #11
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    Quote Originally Posted by IR5
    so you mean it was their right to block our money?
    What you say may look correct about small companies or non-banking companies, but E-Gold is supposed to be an online banking system (or what you call them), they must not make such mistakes.
    It's not our fault that they're not familiar with international trade rules.


    So it seems it's just fake propaganda and U.S. is telling us lies in VOA persian channel or other type of propaganda they're using!
    Hey IR5 all i can say is sorry to heard that .... all my friends in Iran had the same problem ... I have already asked my lawyer to write a letter about this it will be ready tomorrow i will post it to them i hope i can get a answer becuase all my friends business who are in Iran are down now ..

    Navid,
    Giving up does not always means you are weak, it Simply means you are strong to let go!

  12. #12
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    Anyone consider they know they can plead ignorance until told otherwise by the government? Perhaps they offered the service as long as they could..

  13. #13
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    Quote Originally Posted by IR5
    So it seems it's just fake propaganda and U.S. is telling us lies in VOA persian channel or other type of propaganda they're using!
    Embargoes are embargoes. This has nothing to do with Iraq or anything like that. Reason? Nuclear program. It is not secret that if Iran wanted to, they could have nuclear weapons soon - both Uranium and Plutonium (for which they already have a processing plant built, by the way). But then we'd have to turn this into a different kind of thread.

  14. #14
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    Jesus guys, lay off the politics! nuclear blah blah plutonium blah blah, all the guy wanted to know is what was going on with egold.
    Quote Originally Posted by Lev
    But then we'd have to turn this into a different kind of thread.
    seems that you just did.....
    jeesh, I could talk about my dog chasing his tail and it would somehow lead to somebody saying G.B. is putting something in the air to make them whacko so we have to use more GAS to run to the pet store to get medicine........
    I think politics need to stay in a politics forum.
    just my opinion.....
    Dave

  15. #15
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    Quote Originally Posted by BoostBoards
    Jesus guys, lay off the politics! nuclear blah blah plutonium blah blah, all the guy wanted to know is what was going on with egold.
    No, he asked for it when he said

    Quote Originally Posted by IR5
    So it seems it's just fake propaganda and U.S. is telling us lies in VOA persian channel or other type of propaganda they're using!
    In any case, I will leave the topic since this is not the right forum to talk about it.. But I did not just randomly start talking about it.

  16. #16
    The politics are the precise reason why this is occuring, so its tough to lay off it. None of us can provide a direct answer for the original poster, but what prohacker suggested is probably what happened. Many U.S companies and business leaders that I've met were unaware of these restrictions...

    I hope things work out for you.

  17. #17
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    Sorry to hear what happened to you IR5. Unfortunately its probably a political thing that has caused the issue with you and egold.

    My first guess would be the USA thinks egold is a way to pay / finance terrorists in middle east countries.
    Three out of four people make up 75 percent of the population

  18. #18
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    E-Gold is the primary payment processor used by scammers/con artists/general shady people. That said, I've been using them on a daily basis since a few years and I've never had problem. They have quite a "closed eye" policy as they usually let everything fly. It's impossible to get a refund via E-Gold for whatever reason (not sure how they'll handle it in this particular case though).

  19. #19
    Ok, if it's really U.S. embargo and E-Gold leaders were not aware of U.S. rules (which means they're really really really amateur and should not be allowed to do online banking), we leave accounts, but we need our money.
    They MUST refund the money.

    (Sorry if I said any political things like propaganda or such, leave them and let's talk about E-Gold [The scamer!])
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  20. #20
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    First of all I am very sorry to hear what happened to you but if I can contribute to this thread, please note that its complete stupidity for the nationals of the listed countries to do business with any company based in the United States.

    * North Korea
    * Cuba
    * Iran
    * Sudan
    * Syria
    * Myanmar (Burma)

    It was just a matter of time when it had to happen. We all watch the news. Nothing is hidden. Thats how it will work I am afraid.

    I am afraid you will just have to get over it and look for European union credit card or forex company or better yet look for something in HongKong or Singapore etc.

    Its like beating a dead horse. Either move to a country that does not have bad relations with the economic giant like america or just change the way you do business.

    Its unfortunate but thats how it will work for the nationals of the above countries unless they come to par with the united states.

    Id say for iranians in particular, things are look bleak because more and more nations would have to shut down doors because everyone has to eventually follow on with the US policy as it does not cut for them.


    As for refunding your money, you better forget about it because they must already be under investigation from the FBI, NSA and the CIA etc. They rather scam a few hundred people and run their business than to start fixing up things with them and close their doors. If I was the e-gold owner, I would do the same unfortunately!
    Last edited by ForumsAddict; 11-28-2006 at 09:31 AM.

  21. #21
    Quote Originally Posted by ForumsAddict
    its complete stupidity for the nationals of the listed countries to do business with any company based in the United States.
    It's complete stupidity for the U.S. copmanies to do business with the listed countries. We're not U.S. resident and we're not asked to be aware of U.S. laws.
    E-Gold is an U.S. copmany and they should be aware of U.S. laws.
    We just needed to be aware of E-Gold terms and conditions and our country laws.

    Consider the following situation:

    Mr.X is living in country A. he wants to go to country B.
    He ask for visa from Country B and country B accept his request and publish a visa for him.
    When Mr.X goes to country B, he's arrested by the police. he's informed that "behalf of laws of country B, no people from country A are allowed to travel to country B."
    So, he must be stayed in the prison and all of his money is taken from him.
    whose fault is it?
    Mr.X or embassy of country B?
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  22. #22
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    Quote Originally Posted by IR5
    Hi WHT people,
    2 days ago we (Most iranian people) have been notified that our e-gold accounts does not work any more! when we try to login, it says wrong username or password.
    When other people try to send money to our accounts, it says the account does not exist!!!!!!!!!!!!!!

    We tried to contact e-gold by email and telephone, but no answer since it was saturday and sunday.
    Today we contacted them and all of us, I say again all of us got the same response from them as following:



    Ok, maybe me, my friend, my friend's friend made any mistake and account has been suspended, but not all of iranian users!
    when we ask is there any political issues? they say "we don't know, we can't say anything about it."
    if we ask more, they hang up the phone!

    Since e-gold was the only famous online payment system available to iranians, most iranians had account there and also, since it's the way to invest in forex, most of accounts had more than 1,000$ in them!
    Now, all iranian accounts have been frozen without any notification and all the money is blocked and e-gold do not provide any answer!

    If you check e-golds terms of service, you can NOT find any line says "Iranians are not allowed to apply" or such things, e-gold says regularly "all international customers are welcomed."

    They're really robbing our moneys!

    Anyone has any idea what can we do in this situation?

    Thanks
    And still US people ask why they are being hated by 3/4th of the word population.

    Egold, go and Die!


    Quote Originally Posted by IR5
    Consider the following situation:

    Mr.X is living in country A. he wants to go to country B.
    He ask for visa from Country B and country B accept his request and publish a visa for him.
    When Mr.X goes to country B, he's arrested by the police. he's informed that "behalf of laws of country B, no people from country A are allowed to travel to country B."
    So, he must be stayed in the prison and all of his money is taken from him.
    whose fault is it?
    Mr.X or embassy of country B?
    Very realistic example.

  23. #23
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    Quote Originally Posted by IR5
    Mr.X is living in country A. he wants to go to country B.
    He ask for visa from Country B and country B accept his request and publish a visa for him.
    When Mr.X goes to country B, he's arrested by the police. he's informed that "behalf of laws of country B, no people from country A are allowed to travel to country B."
    So, he must be stayed in the prison and all of his money is taken from him.
    whose fault is it?
    Mr.X or embassy of country B?
    Mr. X for not researching the country he's going to.

    And still US people ask why they are being hated by 3/4th of the word population.
    No, we know why we're hated (speaking for myself). But do you know why you truly hate us?

    Egold, go and Die!
    Ah yes, rather than deal with the real problem, you place the blame on the company who follows the rules set forth to USA corporations.

    In all seriousness though, there are 3rd party payment processors based throughout Europe that you may be able to use. If e-Gold is a must, perhaps you can contact a government represenative and maybe they'll realize the need to smooth over diplomatic relations if enough people follow suit?

  24. #24
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    Quote Originally Posted by inogenius
    Ah yes, rather than deal with the real problem, you place the blame on the company who follows the rules set forth to USA corporations.
    i am sorry but why didnt this company follow the rule set forth to USA corporations when they started they business ?? now you see my point ??
    Giving up does not always means you are weak, it Simply means you are strong to let go!

  25. #25
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    So you think e-gold is just sitting there giggling now? Like they did this as their own intention? They did it because they were forced to
    Show your reciprocal links on your website. eReferrer

  26. #26
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    Quote Originally Posted by Navid1
    i am sorry but why didnt this company follow the rule set forth to USA corporations when they started they business ?? now you see my point ??
    Its a money grab. They knew they were doing something borderline legal and they let it go on untill the US gov told them to stop it. They were more then happy to co-operate with the US gov wishes and took your money.

    If they actually cared they would have contacted you before hand to let you know what was going to happen. Obviously this would not have flied with the US authorities because "suspect"money would have been with drawn from E Gold accounts and never seen again.
    Last edited by Evolver; 11-28-2006 at 12:05 PM.


    + NOW WE'RE MAKING RECORDS, NOW WE'RE MAKING TAPES

  27. #27
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    Quote Originally Posted by Evolver
    Its a money grab. They knew they were doing something borderline legal and they let it go on untill the US gov told them to stop it. They were more then happy to co-operate with the US gov wishes and took your money.
    That is Exagtly what i mean ,

    thanks!
    Giving up does not always means you are weak, it Simply means you are strong to let go!

  28. #28
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    Quote Originally Posted by Navid1
    i am sorry but why didnt this company follow the rule set forth to USA corporations when they started they business ?? now you see my point ??
    No, I don't really see your point. The embargo against Iran has been there for quite some time. Perhaps your signup to e-gold slipped through the crack, maybe they didn't feel like following the rules set forth to them. Ultimately though everyone should research companies that they do business with, not just those people in Iran, but everyone, especially when it comes to businesses taking money for you.

    It's unfortunate that it happened, as it is rather ridiculous for them to keep your money. The blame needs to be shared amongst several different people though; e-Gold, yourself, politics.

  29. #29
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    Quote Originally Posted by inogenius
    No, I don't really see your point. The embargo against Iran has been there for quite some time. Perhaps your signup to e-gold slipped through the crack, maybe they didn't feel like following the rules set forth to them. Ultimately though everyone should research companies that they do business with, not just those people in Iran, but everyone, especially when it comes to businesses taking money for you.

    It's unfortunate that it happened, as it is rather ridiculous for them to keep your money. The blame needs to be shared amongst several different people though; e-Gold, yourself, politics.
    First of all thanks for your reply , secondly i dont live in iran im just talking for people who live there and cant say anything as they dont have the languge or something else !

    I 100% agree that E-gold had to do this but 2month ago if you singed up to e-gold in the country list it was Iran so they allowed them to sign up ... this rule is not something that been set just few days ago .. noo its there for ages ... i hope you know what i mean now ...
    Giving up does not always means you are weak, it Simply means you are strong to let go!

  30. #30
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    inogenius

    Quote Originally Posted by inogenius
    Mr. X for not researching the country he's going to.
    Wow, I am impressed with your thinking. No offence, But just let me know have you ever travelled out of the US? If you did, did you researched all the laws of that country?

    Ok, if not the country -- Did you ever went to any of your relatives house? How will you feel if he cut off your both hands and say its our rule in this house that we cut both hand off of our visitors? And we can not explain the reason at the moment.

    Even if I agree with your comments that one should research the regulations and laws before going there, What if they have not mentioned to put the Mr. X in prison in any of the law he had been researching?
    Same with the Egold, did they ever or anywhere mentioned that they dont allow Irani people, and if they signup we will suspend there accounts?
    Please show me an example, i am waiting.

    Frankly, your reply made me laugh.

    No, we know why we're hated (speaking for myself). But do you know why you truly hate us?
    Yes, I do. But most of the US people do not. Because you people live aside from the rest of the world, geographically. You people are so busy in your own life and dont have time to see what your govt. is doing elsewhere in the world. you people only know what BBC and CNN shows you. Thats all your knowledge is upto.

    Ah yes, rather than deal with the real problem, you place the blame on the company who follows the rules set forth to USA corporations.
    Where was the law when they were signing up by Irani IPs? Or using Iran as thier country? You might have seen many affiliate programs those doesnt allow people from some specific countries to join, And they ristrict them on the very join page. Not at the time when affiliate make $1000 and they refuse to pay, saying we dont allow x country's people to join us.

    Alright, I agree that laws can be modified -- but is it ethically true to grab the money for no good reason? You can suspend the account, OK -- but you should give user an option to withdraw the hardearned money.

    Though I am not from Iran, I never travelled to. But I know how much $1000 are worth to Irani guys.


    So you think e-gold is just sitting there giggling now? Like they did this as their own intention? They did it because they were forced to
    If someone force Egold's CEO to kill his father, will he do? Of course they were forced to do, And they did and even held the money just because hardly harm them in anyway. May be 0.01% if their business only.

    Seeing a house on fire and being burned in that house are two diffrent things mates.

    Perhaps your signup to e-gold slipped through the crack
    It was whose duty to take care of the cracks? Egold's or Irani people's?


    The blame needs to be shared amongst several different people though; e-Gold, yourself, politics.
    There you are, Just drop the "youself" from your list and replace "politics" with "US politics"

  31. #31
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    Thing is there is nothing that can be done regarding this. It is impossible for e-gold to make any payments to the iranian people because they simply do not want anything to do with it now.

    Your shouts here would unfortunately lead to nothing except few seconds wasted writing the posts. Bite the reality, take the loss and try to rebuild simple as that!

  32. #32
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    i recommend you contact US embassy in Iran and explain them whole situation and show your displeasure, may be they can help. I also don't think e-gold will be able to help you much further in this regards, if they are contacted by government officials to freeze all accounts based in iran.

  33. #33
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    would also be worthy to mention there is no direct transaction between E-Gold and their customers. Everything is handled through 3rd party gold brokerers so it complicates things a little bit.

  34. #34
    This is vey very sad, i just have to wonder, why didn't e-gold give a notice before it takes this action then ppl would have the time to withdraw their money? and then what kind of businessman/company that would accept money that doesn't belong to it?
    what's next, company X “holds” all money of Muslims /mideast /arabs, cause there is a chance that this money is going to terrorists!!!!

    my advice to anyone, Never keep too much money in online accounts.
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