Shrem & Faiella Agree to Forfeit $950K As Part of Plea Deals
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.....
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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....
Robert M Faiella, the bitcoin trader charged alongside BitInstant CEO Charlie Shrem, has been sentenced to four years imprisonment in New York. Faiella, otherwise known as 'BTCKing', pleaded guilty to operating an illegal money transmission business after he exchanged fiat currency for bitcoins that were then used to buy drugs on the Silk Road marketplace. According to a Bloomberg report, Faiella said: "At the time of the event, I saw no other way ... it still doesn't mitigate that I broke the law." Faiella, a 53 year-old Florida native, is a former plumber who claimed he had turned to the....
Prosecutors have requested a second postponement of bitcoin entrepreneur Charlie Shrem's court case over alleged money-laundering, as the participants look to cut a plea deal, according to reports. Assistant US Attorney Serrin Turner asked that the case be postponed to 28th April and confirmed that plea deal discussions were taking place, according to a 28th March filing in the Manhattan federal court. Now @CharlieShrem talking plea deal over money laundering @BloombergNews. - Carter Dougherty (@CarterD) 1 April 2014. Shrem, 24, faces charges of money laundering, with accusations he used....
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....
Former BitInstant CEO and Bitcoin Foundation board member Charlie Shrem made news when he was arrested in late January on suspicion of laundering over $1 million in connection with the infamous dark web marketplace Silk Road. Here we are at the start of April and it's being reported that United States Assistant Attorney Serrin Turner has asked for Shrem's case to be put on hold until the 28th of April. According to the March 28th filing, the 24-year-old may be in talks over a plea deal, which would close the case. Specific details were not available. Shrem has a co-defendant in this case,....