LOS ANGELES (AP) — Federal prosecutors in Los Angeles say nearly $25 million will be repaid to people who invested in a precious metals website that was run by a California man who was convicted last year of hiring a hitman to kill his wife.
Judges in California and Australia recently granted forfeiture orders totaling $24.3 million that will go toward paying investors of e-Bullion.com.
The site allowed people to invest in gold and other metals but authorities said the money was moved around the world and avoided global banking reporting requirements.
James Fayed ran the site and was sentenced to death last year for arranging his wife's murder in 2008. Pamela Fayed was stabbed in a parking garage after the estranged couple met with attorneys about a federal probe of their gold business.