July 17, 2024
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Gold trader pleads not guilty


James Michael Fayed, co-owner of a Camarillo-based international gold-trading company, pleaded not guilty Aug. 18 to federal charges that he operated an unlicensed money-transmitting business since at last April 2006 with his estranged wife, Pamela.

Pamela Fayed, 45, was stabbed to death July 28 in a Century City parking garage. Prosecutors have not charged James Fayed with the slaying.

However, prosecutors persuaded a federal judge to hold James Fayed without bail, arguing that he presented a flight risk while they investigated Pamela Fayed’s death.

FBI agents took Fayed into custody in his home near Moorpark late Aug. 1.