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Final hearing scheduled in Internet Gold suit
(Greenville Herald-Banner (Greenville, Texas) Via Acquire Media NewsEdge) Nov. 17--GREENVILLE -- What is being described as a final hearing in the lawsuit against a former Greenville online payment operation is scheduled today in a Hunt County state district court.
What is at stake in the hearing is unclear, as a state district judge awarded damages almost a year ago to a French national who had sued Internet Gold Incorporated over tens of thousands of dollars he sent to the company which were never accounted for.
In December of last year, 354th Judge Richard A. Beacom granted a motion for summary judgment, awarding plaintiffs Patrick Verbeeck and Goldtocard $62,037 in actual damages, as well as $12,489.22 in attorney fees and expenditures. The plaintiffs would be entitled to additional damages, Beacom ruled, should Internet Gold move to appeal the decision to a higher court.
Shortly after that hearing, however, the suit was severed into a separate action, although no additional hearings are scheduled.
Questions as to whether Internet Gold or its officers were ever facing a federal criminal investigation have also not been confirmed.
Agents from the U.S. Secret Service and Federal Bureau of Investigation raided the company's headquarters in Greenville on Dec. 17, 2005. Since that time, federal officials have not indicated whether there is any criminal action taken or pending regarding the company, although the attorney who had until recently been representing the owner of Internet Gold in the suit stated in court documents there was an investigation underway.
Internet Gold was described as an e-currency exchange, which took real money and converted it into virtual currency for use in transactions on the Internet.
The virtual currency was supposedly designed as a safeguard, backed by gold, when account holders with Internet Gold Incorporated wished to trade over the Internet with businesses both in the United States and abroad.
According to several people claiming to be customers of Internet Gold who contacted the Herald-Banner shortly after the federal raid, their virtual currency soon became untouchable and many said they were suddenly unable to transact any business with the company or withdraw their funds.
To see more of Greenville Herald-Banner, or to subscribe to the newspaper, go to http://www.heraldbanner.com/.
Copyright (c) 2008, Greenville Herald-Banner, Greenville, Texas
Distributed by McClatchy-Tribune Information Services.
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