Ross Ulbricht's Lawyer Uses IRS Bitcoin Guidance to Try Dropping Charges Against His Client
It would appear as if the legal counsel of alleged Silk Road founder Ross Ulbricht is using recent IRS guidance (and FinCEN publications) relating to bitcoin to try and get charges against his client dropped. As a brief primer, last week the Internal Revenue Service announced that bitcoins and other cryptocurrency shall be treated as property. As such, the attorney, Joshua Dratel, has argued in a motion that money laundering charges against Ross Ulbricht should be dropped because bitcoin does not qualify as a "money instrument". Bitcoin does not qualify under any prong of that definition.....
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"Ross Ulbricht cannot have been involved in money-laundering at Silk Road because Bitcoin is not regarded as a currency." The IRS ruling gives Ulbricht's lawyer weapons to fight. Remember Ross Ulbricht? The alleged creator of the Silk Road has been facing numerous charges after his black market was taken down last year. After pleading not guilty to all charges in February, it seems he now received some help from a rather unexpected source. No money to launder. In a motion filed over the past weekend, Ulbricht's lawyer Joshua Dratel argued that all charges against his client should be....
An attorney representing alleged Silk Road mastermind Ross Ulbricht has asked that a federal judge dismiss four charges against his client as part of his ongoing New York indictment. In a 64-page filing submitted to the District Court of the Southern District of New York this weekend, Ulbricht's defence attorney, Joshua Dratel, argues that one count of money laundering, running a criminal enterprise, narcotics conspiracy and conspiracy to commit computer hacking be dismissed, stating that they are vague and do not cover his client's alleged conduct. Perhaps most interestingly, Dratel took....
As Ross Ulbricht seeks a new trial, citing the actions of federal agents Carl Mark Force IV and Shaun Bridges, a lawyer close to the case does not see much hope for the convicted Silk Road administrator. Sentenced to life in prison in May 2015, Ulbricht was found guilty of narcotics trafficking, money laundering and computer hacking charges. Ivan bates, the lawyer for Carl Mark Force IV, does not believe the actions of his client during the Silk Road investigation means Ulbricht will be freed. “I don’t really see the major implications for Ross Ulbricht,” he said. “It’s just one of those....
There's quite a bit developing on the legal front of bitcoin. Just this week, it was reported that former BitInstant CEO Charlie Shrem and co-conspirator Robert Faiella had agreed to forfeit $950,000 as part of plea deals. We're now learning that the alleged founder of the illicit Silk Road marketplace has pleaded not guilty to most recent charges pressed against him, according to Forbes. This news comes just over two weeks following reports indicating that a new indictment was filed, with the addition of narcotics trafficking charges, distribution of narcotics via the Internet, and....
New York District Judge Katherine B. Forrest denied a motion to dismiss all counts against alleged Silk Road operator Ross Ulbricht in a July 9th filing out of the United States District Court for the Southern District of New York. The news comes a little over three months following reports that indicated Ulbricht's legal counsel had attempted to have all charges against him dropped using a recent IRS guidance on bitcoin. That guidance dictated that for the sake of Federal tax purposes, bitcoin should be treated as property. Ulbricht's attorney, Joshua Dratel, used the guidance to his and....