Bitcoin Foundation Responds to Allegations Against Charlie Shrem
Following the news on Monday that BitInstant CEO Charlie Shrem was arrested in New York on suspicion of selling over $1 million worth of bitcoin to users of the now-defunct Silk Road online drug marketplace, and today's news Shrem has been released on bail, the Bitcoin Foundation has released a statement on the allegations against the 24-year-old. "We are both surprised and saddened to learn of these allegations. The foundation does not condone illegal activities and values transparency, accountability and a high level of responsibility towards its members and overall community," the....
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Charlie Shrem was formally indicted on April 10th. Three months ago, Charlie Shrem, the former Vice Chairman of the Bitcoin Foundation and CEO of the now-defunct BitInstant, was arrested in New York on charges of money laundering and acting as an unlicensed money transmitter. The allegations against Shrem were that he laundered over $1 million in bitcoins for users of Silk Road - the illegal online drug marketplace that was shut down by the FBI back in October 2013, and that he wilfully neglected to report unlawful transactions that were conducted through BitInstant by Robert Faiella, a....
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....
Editor's Note: Charlie Shrem has responded publicly by clarifying that he has not been banned from any conferences. A misreading of events caused by verbiage which CCN profusely apologizes for initially printing. Shrem has responded to CCN inquiries from earlier today and will release a full statement on the happenings soon. CCN wishes Charlie Shrem the best of luck in his 9/22/14 trial, his case has been previously written about here. Charlie Shrem's favorite picture of Charlie Shrem. Embattled former Bitcoin Foundation member Charlie Shrem has faced his share of legal trouble with the....
On Monday it was reported that BitInstant CEO Charlie Shrem was arrested at John F. Kennedy International Airport in New York City on suspicion of involvement with Silk Road - the now infamous online 'underground' drug marketplace. Shrem is suspected to have been money laundering, with ties to Silk Road by selling over $1 million in the digital currency to users of the marketplace. In addition, charges on Shrem include operating a money-transmitted business without registering with FinCEN - the United States Treasury's Financial Crimes Enforcement Network. "At this point the allegations in....
BitInstant CEO Charlie Shrem has today been released on bail following a court appearance. Shrem appeared before the US District Court in Manhattan this morning, walking out shortly after on a $1m bond. The CEO was arrested at New York's John F Kennedy International Airport on Monday. He faces serious money laundering charges, brought by the US Attorney's Office in Manhattan. Shrem is anything but a free man at this point. Under the terms of the bail agreement, he will remain confined to his parents' home in Brooklyn. Assistant US attorney Serrin Turner opposed bail, arguing that Shrem has....