There is an update news from ebullion, as we all know that there were many polemic and controvercy about it, since GDCA made an announcement.

“Dear Mr. GDCA President,

I have been writing and blogging lately about the possible or alleged recent issues regarding e-Bullion. I feel, as do many readers, it is important to determine whether these possible issues are rhetoric, a few unhappy agents or possibly big events that will effect the industry as a whole… I now see that the GDCA has posted a warning regarding e-bullion at: http://gdcaonline.org/content/news.html

In that warning it states that :

“….E-bullion.com closes and/or freezes accounts without any court order or reasonable justification, sometimes freezing customer funds forever.”

* Please present proof of these events by showing the closed account documentation and any correspondence with e-bullion regarding that account and its closure.
* Please comment on why e-bullion closed the account or accounts, any justification e-bullion presented or did not present.
* Please provide your opinion as to why e-bullion has taken this action.
* Please provide evidence of e-bullion seizing or freezing account holder funds and not returning them as stated in your comment/warning above. Who had their funds ’stolen’ or has stated they had funds seized?
* Please show me the evidence of a rumored investigation by the USSS, because I heard a rumor they were going to be bought by Donald Trump. Rumors are not fact and have no place in an industry ‘warning’ without supporting information. Provide me these facts or the person openly commenting about an ongoing investigation being conducted by an agency of the US government.
* Please provide me copies of any complaints from users that the GDCA may have received regarding e-bullion for the past two years.
* Please include e-mail or other documentation so these can be verified by me.
* Please provide me any exchanger opinions or complaints which you have documented regarding the policies and terms now in use by e-bullion.

You should know that I have already been in touch with Mr. Joseph Hamilton, CISSP Chief Technical Officer, e-Bullion.com, on several recent occasions regarding these stated rumors.

Its my firm belief that resolving any problem whether minor or serious can be accomplished by logical discussion and clarification of facts, not rumors and flaming.

I would appreciate it if you can comment here below this post at your earliest convenience, whether you can or will produce the above requested material to me via email. All other comments and questions are welcome. Feel free to remove any personal or financial information from these documents. After hearing from you, Mr. Hamilton of e-bullion will again be contacted for his comments, he is available and reaching me just fine.

Thanks and I look forward to hearing from you soon.

Mark Herpel”

And above is a fax reply from GDCA Vice President:

” Dear Mark,

This is a complaint and explanation to the GDCA by Autocambist.com, a GDCA member. E-bullion refused to even acknowledge or reply to any emails asking them about it, choosing to completely ignore the GDCA and its attempts to obtain a reasonable explanation or settlement:

———————————-
To: Global Digital Currencies Association
Re: Follow-up to official complaint

Autocambist has launched an official grievance against the business and principals behind the online payment processor and exchanger: E-bullion.com and GoldFinger Coin & Bullion.

Autocambist alleges that E-bullion is in breach of contract.

Notwithstanding E-bullion’s boilerplate language in its terms of service, which is both vague and overly broad and which should not be relied upon on the grounds that enforcing them is unconscionable, E-bullion has breached its contract with Autocambist by failing to perform agreed-upon services, and has aggravated such a breach by further damaging Autocambist’s business and unduly converted Autocambist’s funds.

1. Doctrine of unconscionability
http://en.wikipedia.org/wiki/Unconscionability

E-bullion, having superior bargaining power which it has proven with its recent actions, should not be allowed to rely on its ToS that states, generally, that it can freeze any account for any reason. Autocambist believes that E-bullion’s ToS cannot be relied on in this dispute because it is unconscionable.

2. Misrepresentation
http://en.wikipedia.org/wiki/Contract#Misrepresentation

Autocambist has been falsely induced into entering into a contract with E-bullion to provide Autocambist’s clients with a third-party payment system so that Autocambist clients (though E-bullion believes that all clients belong to E-bullion simply because they have an E-bullion account, and thus E-bullion can sever any third party’s relationship with these clients at their whim) can do business online.

Based on E-bullion’s public representations and conduct (freely allowing even fraudulent sites that have been reported to E-bullion to continue to exchange E-bullion) of promoting the free exchange of its currency, Autocambist has entered into this contract under false pretenses, or misrepresentation, on E-bullion’s part. Therefore, the ToS cannot be enorced and Autocambist is allowed damages.

3. Duress
http://en.wikipedia.org/wiki/Duress_%28contract_law%29

E-bullion announced to Autocambist on Thursday, the 12th of July, 2007, to cease all incoming and outgoing operations immediately and to liquidate its account(s) by the end of day, Saturday, July 14th, 2007, effectively allowing only one business day for Autocambist to request wires only from GoldFingerCoin & Bullion at a rate of 2% and 3%.

E-bullion charges 3% and 2% fees for “liquidations.” A reasonable person would take that to include voluntary liquidations, and not “forced liquidations.” We have not asked for this service, since we have fully intended to sell the E-bullion to third parties, not at a loss of about 2%, but at a profit of AT LEAST 2%, a 4% differential, which we have suffered as a loss due to E-bullion’s actions.

Undue influence is an equitable doctrine that involves one person taking advantage of a position of power over another person. We are willing to forego asking for damages in the amount of 4% or 5%, but we are adamant that e-bullion should, in the least, return the approximately 2% “fee” that they have forced upon us with this liquidation.

4. Autocambist’s good faith

Our records will show that Autocambist has helped E-bullion recover well over a hundred thousand dollars worth of fraudulent payments that we stopped at their request. Not only that, but it was the idea of Autocambist for E-bullion to implement into their API the “cryptocard rule” where only cryptocard users can use Autocambist (and other automated exchangers) to complete exchanges, while non-cryptocard users have to wait 24 hours for their exchange to be completed. E-bullion is continuing to benefit from this idea that we have shared with them.

Furthermore, at no time did E-bullion accuse or imply that Autocambist has ever done anything untoward or unsavory with regard to its sole purpose of exchanging digital currencies.

5. Tricks, frauds, and restraint of trade (see Sherman anti-trust Act)

Autocambist.com is a separate business entity from any other and has, through its own marketing efforts and expense, accumulated clients and offered them services, while recommending to such clients that they use various digital currencies, including E-bullion, the effect of which is that such clients use various digital currencies to interact with Autocambist, with full knowledge of this by E-bullion. E-bullion’s unilateral, baseless, and unfair action irreparably harms Autocambist by separating Autocambist from its clients, and vice-versa, after Autocambist entrusted E-bullion with its clients, thus interfering with Autocambist’s contracts and business, in an apparant contravention of E-bullion’s public claims that they are a digital currency that is freely exchangeable with other currencies and as evidenced by E-bullion’s continued willingness to allow many other exchangers to continue to operate using E-bullion, though on a smaller scale and, not accidentally, driving more clients to E-bullion’s own exchange operation, GoldFinger Coin & Bullion.

Autocambist was duped into a false sense of security while marketing and sending its own clients to E-bullion in anticipation of meeting these clients’ exchange needs only to later be completely cut off from our own clients. It is our contention that E-bullion’s underhanded actions are both calculated, purposeful and are tantamount to fraud.

We are able to show evidence, including evidence from other reputable exchangers, that this tactic has been used by E-bullion throughout their business from the beginning of their existence. It is further our intention, if we receive positive judgement from the GDCA, to take these issues much further on the legal front, including discussing E-bullion’s restraint of trade policies with the Justice Department of the United States.

Should the Global Digital Currencies Association rule in our favor, we request, in addition to damages listed below, that the GDCA issue a warning on its main page about E-bullion.

6. Damages

a) Autocambist requests that E-bullion refund $4,000.00 in liquidiation fees;
b) that E-bullion issue an apology to Autocambist;
c) that E-bullion send the last wire that Autocambist requested as part of the forced liquidation that Autocambist has not received in over a week.

———————————-

Regards,

Vice-President
Global Digital Currencies Association
www.gdcaonline.org

”
I’ve taken it from our Forum, there are a disscussion about it

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4. Autosurf.bz, Closed (OLD NEWS)
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