Charlie Shrem Resigns from Bitcoin Foundation Following Silk Road Arrest
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....
Related News
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,....
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....
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....
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....
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....