BitInstant CEO Arrested at JFK Airport
The CEO of BitInstant, Charlie Shrem, has reportedly been arrested at New York City's JFK International Airport, accused of selling over $1 million worth of bitcoins to users of the famed (and now defunct) Silk Road drug trade site on the darknet. The report released by the Southern District of New York on Monday revealed Shrem himself purchased illicit substances on Silk Road. Another individual who reportedly ran a bitcoin exchange, Robert M. Faiella, was also arrested on similar charges. "As alleged, Robert Faiella and Charlie Shrem schemed to sell over $1 million in Bitcoins to....
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Charlie Shrem, the Vice Chairman of the Bitcoin Foundation and CEO of currently shuttered Bitcoin exchange, BitInstant, has been arrested. Police arrested Shrem at JFK airport in New York yesterday, on charges of money laundering and acting as an unlicensed money transmitter. It is alleged that Shrem sold / laundered Bitcoin in excess of $1 million for users of narcotics bazaar, Silk Road. Robert M. Faiella, a private Bitcoin exchanger known online as BTCKing, was also arrested today at his Florida home. He is facing similar charges. Shrem is facing a maximum sentence of 30 years in....
One year ago today, former BitInstant CEO and early Bitcoin proponent Charlie Shrem began serving his two-year prison sentence. The former CEO of BitInstant, a popular Bitcoin exchange in the early days of Bitcoin, was arrested at JFK airport in January 2014. He was just 24 year old. Later convicted of abetting more than $1 million in bitcoin sales to Silk Road users, and also cited as a Silk Road user himself, Shrem faced a detailed case against him. He was charged alongside Robert Faiella, who was known as BTCKing on the Silk Road.
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....
Speaking on Wednesday evening on a panel in Manhattan, former BitInstant CEO Charlie Shrem made some remarks with regard to his ongoing case. He was joined on stage by filmmaker Nicholas Mross, his brother Daniel Mross, and New York Times reporter Nathaniel Popper, following the premiere of The Rise and Rise of Bitcoin documentary. Shrem is, of course, accused of laundering nearly $1 million to users of the former Silk Road deep web marketplace. He was arrested at John F. Kennedy International Airport in New York in late January. (An alleged accomplice was also arrested around the same....
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....