Charlie Shrem Arrest is Latest Chapter in Silk Road Story
The latest chapter of the story of Silk Road began unfolding today with the arrest of Charlie Shrem, the founder of the BitInstant bitcoin exchange, on money laundering charges involving the black marketplace. Shrem and 'BTCKing' are accused, by the Manhattan US Attorney, the DEA and other federal agencies, of engaging in a "scheme to sell" $1m of bitcoin to Silk Road users. Ross William Ulbricht, the 29-year-old alleged mastermind behind the Road, has not yet been tried. He was arrested for violating the narcotics laws of the United States, possessing and distributing controlled....
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Charlie Shrem, aka, 'Four Finger Charlie', has posted his goodbye blog and will be surrendering himself to Lewisburg Federal Prison Camp (Pennslyvania) on March the 30th. Charlie was arrested last year and convicted at the end of 2014 for crimes against the US Government in their endless War on Drugs. Sentenced to two year's imprisonment for knowingly allowing a Silk Road user, (Robert Faiella) to trade bitcoins through the now defunct exchange BitInstant. Charlie was charged with conspiring to sell over $1 million worth of bitcoins to Silk Road users, and had to forfeit $950,000. The....
Former Bitcoin Foundation vice chairman Charlie Shrem has been indicted on charges stemming from alleged money laundering on the Silk Road, once of the largest illegal marketplaces online. The indictment involving Shrem and Florida resident Robert Faiella indicates that the two had been conspiring together to funnel money into Silk Road since 2011. Shrem, 24, was co-founder and an executive of bitcoin processor BitInstant. He is also accused of never filing a single suspicious activity report with the government during his time at the company. The details. According to the indictment,....
BitInstant CEO Charlie Shrem has resigned from the Bitcoin Foundation's board of directors following his arrest over money laundering allegations. The US government has accused Shrem of working with Robert M Faiella, also known as 'BTCKing', to launder money from drug sales on Silk Road through his bitcoin exchange startup BitInstant. A statement from the Bitcoin Foundation reveals Shrem, who was its vice chairman, submitted his resignation this morning. Jon Matonis, executive director of the Bitcoin Foundation, said: "As a foundation, we need to remain focused on our core mission to....
Charlie Shrem has been released from prison and is quite happy to be out. In a blog post written on his personal website, he thanked the hundreds of people who showed him support while being locked up in Lewisburg Federal Prison Camp in Pennsylvania. Former BitInstant Co-Founder Charlie Shrem Is a Free Man. Charlie Shrem, co-founder of the now-defunct....
An example of the dangerous goods sold on Silk Road. Photo via yum9me. Many people in the Bitcoin community were shocked when they heard Charlie Shrem was arrested for allegedly laundering money for drug dealers from the Silk Road, but the moral, and perhaps even the legal, case against him is rather weak. While the US Government will definitely try to make an example out of Charlie, it's unclear as to whether or not the average person on the street would agree that he should be thrown in jail for decades. While you could make the argument that Charlie should have known what was going on....