Charlie Shrem Will Plead Guilty to Unlicensed Money Transmission
A new report is surfacing suggesting that former BitInstant CEO and member of the Bitcoin Foundation Board of Directors, Charlie Shrem, is expected to plead guilty to unlicensed money transmission next Thursday in New York Federal Court. The report comes from Reuters Friday evening, citing Shrem's attorney, Marc Agnifilo, as the source of the news. Previously, Mr. Shrem has pleased not guilty against the counts against him, of which include running an unlicensed money transmitting business, money laundering (in connection with the now-defunct original Silk Road illicit marketplace), and....
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Bitcoin entrepreneur and former BitInstant CEO Charlie Shrem hopes to walk free after striking a deal to plead guilty to 'unlicensed money transmission' in New York. For Shrem, it's the end of seven months of house arrest, restrictions on movement and uncertainty. The plea bargain is a step down from prosecutors' original charges and strong statements, which also included money laundering and conspiracy and failing to file suspicious activity reports with government banking authorities, relating to former online black marketplace Silk Road. Shrem told CoinDesk he had faced a penalty of up....
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....
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....
Last week, reports began crossing the wires indicating that Charlie Shrem was slated to plead guilty to charges of unlicensed money transmitting. His co-conspirator, Mr. Robert Faiella, planned a similar move. We're now learning from wire service Reuters that both men have pleaded guilty as planned at a hearing on Thursday, which came a little over two weeks before a trial was scheduled to take place on the 22nd of September. Shrem acknowledges that he facilitated the conversion of U. S. dollars into bitcoin in order to assist individuals obtain narcotics from the Silk Road marketplace.....
Bitcoin advocate and entrepreneur Charlie Shrem was sentenced to two years in prison on Friday for indirectly helping to send $1 million in the digital currency to the Internet black-market bazaar Silk Road, the Chicago Tribune reports. Shrem was also ordered by U. S. District Judge Jed Rakoff in Manhattan to forfeit $950,000 after pleading guilty in September to aiding and abetting an unlicensed money transmitting business. Judge Rakoff said: "[Shrem] was knowingly, willfully, and to some extent excitedly, even passionately involved in activity that he knew was a serious violation of the....