Charlie Shrem Sentenced to Two Years in Prison
Bitcoin advocate and entrepreneur Charlie Shrem was sentenced to two years in prison on Friday for indirectly helping to send $1 million in the digital currency to the Internet black-market bazaar Silk Road, the Chicago Tribune reports. Shrem was also ordered by U. S. District Judge Jed Rakoff in Manhattan to forfeit $950,000 after pleading guilty in September to aiding and abetting an unlicensed money transmitting business. Judge Rakoff said: "[Shrem] was knowingly, willfully, and to some extent excitedly, even passionately involved in activity that he knew was a serious violation of the....
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Once the Vice Chairman of the Bitcoin Foundation and CEO of BitInstant, Charlie Shrem's fall from grace, began at JFK airport in New York where police arrested him on charges of money laundering and acting as an unlicensed money transmitter. Authorities alleged Shrem laundered more than $1 million. Shrem faced a maximum sentence of 30 years in prison. Shrem's true story starts with BitInstant and his nightlife lifestyle via his Bitcoin accepting club in New York. Shrem was ultimately sentenced to two years in prison for Silk Road related charges. U. S. District Judge Jed Rakoff in....
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....
25-year-old Charlie Shrem, the CEO of bitcoin exchange BitInstant, was sentenced to two years in prison this afternoon following a lengthy court battle. Shrem recently pled guilty to aiding a Florida man sell over $1 million in bitcoins to customers of the online drug marketplace Silk Road. Shrem will also serve three years of supervised release following the completion of his prison sentence. When asked what his feelings were on the situation, Shrem took responsibility for his actions and refused to pardon himself, saying: "I have no excuses for what I did. I broke the law and I broke it....
Former BitInstant CEO and Bitcoin Foundation board member Charlie Shrem was sentenced this afternoon to two years in prison after pleading guilty to aiding and abetting the operation of an unlicensed money transmitting business. Shrem will also serve three years of supervised release in addition to the prison sentence. Judge Jed Rakoff, who presided over the case, rejected the defense's plea for probation only, but stopped short of imposing a harsher sentence based on the charges at hand. Shrem acknowledged the illegality of his actions, stating in court: "I have no excuses for what I did.....
Charlie Shrem is released from prison; Ethereum successfully “hard-forks,” and the Bank of England may issue its own digital currency. Want to catch up on your latest crypto-news? Take a look at the stories below. CHARLIE SHREM. Bitcoin evangelist Charlie Shrem has been released from prison after serving one year of what was originally set to be a two-year sentence. Shrem was arrested at JFK airport last year after speaking at a Bitcoin conference in Europe. Shrem was charged for helping a BitInstant customer covert USD to bitcoin that would ultimately be used to purchase drugs through the....