e-gold Wins Appeal in D.C. Circuit for Hearing on Asset Seizure

Good news for e-gold today: e-gold Wins Appeal in D.C. Circuit for Hearing on Asset Seizure

MELBOURNE, Fla., April 20 /PRNewswire/ -- e-gold Ltd is pleased to announce a favorable ruling from The United States Court of Appeals for the District of Columbia Circuit in the matter of whether it, Gold & Silver Reserve, Inc., and Directors of both corporations are entitled to a hearing in the Federal district court regarding whether there was sufficient probable cause to justify seizures of assets from the corporations in December 2005 and April 2007.

The higher court concluded, "In short, we hold that where the government has obtained a seizure warrant depriving defendants of assets pending a trial upon the merits, the constitutional right to due process of law entitles defendants to an opportunity to be heard at least where access to the assets is necessary for an effective exercise of the Sixth Amendment right to counsel."

The complete text of the Order is available here at http://www.sendspace.com/pro/dl/ebdb8i.

This ruling will ultimately prove to be beneficial to the rights of all Americans whose Fourth, Fifth and Sixth Amendment rights have been increasingly encroached upon in the name of fighting domestic wars du jour-whether or not they use e-gold.

e-gold Ltd, Gold & Silver Reserve, Inc., and their Directors believe there was insufficient probable cause for the seizure warrants at issue and look forward to finally having their day in court on this matter.

About e-gold

e-gold is an electronic currency, 100% backed by physical gold in allocated storage that empowers people to use gold as money. e-gold is integrated into a secure account-based payment system, operating globally 24/7, featuring instantaneous payment settlement with no charge back risk, at lower cost. Shopping cart, automation, and mobile phone interfaces are available. Operational since 1996, e-gold has settled over 85M transactions, serves customers in 165 countries, and has a circulation of nearly 2.4 metric tonnes of e-gold.