Charlie Shrem Indicted on Federal Charges for Money Laundering
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,....
Related News
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....
Charlie Shrem was formally indicted on April 10th. Three months ago, Charlie Shrem, the former Vice Chairman of the Bitcoin Foundation and CEO of the now-defunct BitInstant, was arrested in New York on charges of money laundering and acting as an unlicensed money transmitter. The allegations against Shrem were that he laundered over $1 million in bitcoins for users of Silk Road - the illegal online drug marketplace that was shut down by the FBI back in October 2013, and that he wilfully neglected to report unlawful transactions that were conducted through BitInstant by Robert Faiella, a....
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....
Ross Ulbricht, alleged Silk Road HBIC, is claiming that new federal bitcoin lawsclassifying bitcoin as assets and not money invalidate the money laundering charges he faces. In short, heargues that you can't launder money if you're not using it. Earlier this year, Robert Faiella, 52, and Charlie Shrem, 24, were arrested on federal money laundering charges for their bitcoin activity on Silk Road. It would stand to reason that if Ulbricht did not break anti-money laundering laws, they didn't either. The two allegedly sold more than $1 million in bitcoin to Silk Road users. Selling assets....
Charlie Shrem, a bitcoin entrepreneur facing federal money laundering charges, is no longer under 24-hour house arrest. Shrem still has restrictions related to his legal situation that include a curfew and limits on his ability to travel, but the modification allows the 24-year-old to pursue work opportunities, provided he does not leave New York. The changes to Shrem's home confinement terms give him the ability to leave his residence between the hours of 9am and 9pm, Sunday through Thursday. He is restricted to the geography of New York City, and must continue wearing a GPS monitoring....