Charlie Shrem Formally Indicted Following Unsuccessful Plea Bargaining

The former CEO of BitInstant and former vice chairman at the Bitcoin Foundation Charlie Shrem has been formally indicted for what authorities say was money laundering over $1 million in connection with Silk Road. Shrem was arrested in late January at John F. Kennedy International Airport following a bitcoin event that took place in Europe. An alleged accomplice, Robert Fiaella, was also arrested in January. Both men are charged with two counts of operating an unregistered money services business, money laundering conspiracy, and willfully neglecting to submit suspicious activity reports to....

Here's an update to the ongoing situation involving Mr. Charlie Shrem, ex-Bitcoin Foundation Vice Chairman and CEO of BitInstant. Reports indicate that Shrem has formally pleaded not guilty on charges of laundering over $1 million in connection with Silk Road. Specifically, prosecutors allege that Shrem willingly sold the bitcoins to users who were planning on spending them on the illicit drug marketplace, which was shut down late last year (another version of the Silk Road marketplace was set up about a month later). The plea was entered through Shrem's legal counsel on Tuesday in....

Another day, another Bitcoin entrepreneur charged with fraud. This time it was Charlie Shrem, the former vice chairman of the Bitcoin Foundation, CEO of BitInstant, and one of the most recognized people in the Bitcoin community, has been officially indicted by a federal grand jury in New York on April 10. Shrem has been formally accused of laundering over $1 million dollars in bitcoins by funneling funds for users on the infamous Silk Road website whose founder, Ross William Ulbricht, is also facing federal charges. Only three months ago, Shrem was arrested in New York on charges of acting....

Further details have emerged of former BitInstant CEO Charlie Shrem's plea bargain with US authorities, which saw him plead guilty to aiding and abetting an unlicensed money-transmitting business on 4th Sept. Reuters reported that both Shrem and Robert Faiella, a co-conspirator who pleaded guilty separately, both agreed to forfeit $950,000 to the government as a condition of their deals. According to the New York Times, Shrem entered his plea in an unwavering voice, appearing "stoic" and calm - a departure from his usually charismatic presence. "I knew that what I was doing was wrong. I am....

Former Bitcoin Foundation vice chairman and bitcoin entrepreneur Charlie Shrem has pleaded not guilty to money laundering charges in Manhattan federal court. The presiding judge has set 22nd September as the date the trial will commence, according to Bloomberg. Shrem's plea was submitted on his behalf by his lawyer. Shrem, 24, was indicted earlier this month by federal prosecutors, who allege that he had facilitated bitcoin payments processing on the now-defunct Silk Road online black marketplace beginning in 2011. The case had previously been postponed in early April after prosecutors....