Frequently Asked Questions

 

The following are “Frequently Asked Questions” about the case.

If you do not find an answer to your question here:

  • Case Documents can be found by clicking here
  • You can write the Remission Administrator at the address listed here
What is this case about?

The United States Attorney’s Office for the Central District of California, with the assistance of the Federal Bureau of Investigation and Internal Revenue Service, obtained a judgment in federal district court resulting 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 James Michael 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.

What is forfeiture?

Forfeiture occurs when a court of law declares the proceeds of a crime to be the property of the government.

What is remission?

Remission is the process by which forfeited assets are returned to the victims of the crime underlying the forfeiture. Authority to grant remission rests with the United States Attorney General, as delegated to the Money Laundering and Asset Recovery Section of the U.S. Department of Justice. The remission process is set forth in the Code of Federal Regulations, Chapter 28, Part 9 (2012).

Who was eligible to receive remission?

Individuals or businesses that had funds and/or precious metals on deposit in an e-Bullion account at the time of the government’s seizures may have been eligible for remission. To receive remission, you must have submitted a valid and timely Petition Form to the Remission Administrator. It is too late to file a petition now.