Charlie Shrem Saga Ends With Two-Year Sentence in New York Court
Former BitInstant CEO and Bitcoin Foundation board member Charlie Shrem was sentenced this afternoon to two years in prison after pleading guilty to aiding and abetting the operation of an unlicensed money transmitting business. Shrem will also serve three years of supervised release in addition to the prison sentence. Judge Jed Rakoff, who presided over the case, rejected the defense's plea for probation only, but stopped short of imposing a harsher sentence based on the charges at hand. Shrem acknowledged the illegality of his actions, stating in court: "I have no excuses for what I did.....
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Charlie Shrem is released from prison; Ethereum successfully “hard-forks,” and the Bank of England may issue its own digital currency. Want to catch up on your latest crypto-news? Take a look at the stories below. CHARLIE SHREM. Bitcoin evangelist Charlie Shrem has been released from prison after serving one year of what was originally set to be a two-year sentence. Shrem was arrested at JFK airport last year after speaking at a Bitcoin conference in Europe. Shrem was charged for helping a BitInstant customer covert USD to bitcoin that would ultimately be used to purchase drugs through the....
Once the Vice Chairman of the Bitcoin Foundation and CEO of BitInstant, Charlie Shrem's fall from grace, began at JFK airport in New York where police arrested him on charges of money laundering and acting as an unlicensed money transmitter. Authorities alleged Shrem laundered more than $1 million. Shrem faced a maximum sentence of 30 years in prison. Shrem's true story starts with BitInstant and his nightlife lifestyle via his Bitcoin accepting club in New York. Shrem was ultimately sentenced to two years in prison for Silk Road related charges. U. S. District Judge Jed Rakoff in....
25-year-old Charlie Shrem, the CEO of bitcoin exchange BitInstant, was sentenced to two years in prison this afternoon following a lengthy court battle. Shrem recently pled guilty to aiding a Florida man sell over $1 million in bitcoins to customers of the online drug marketplace Silk Road. Shrem will also serve three years of supervised release following the completion of his prison sentence. When asked what his feelings were on the situation, Shrem took responsibility for his actions and refused to pardon himself, saying: "I have no excuses for what I did. I broke the law and I broke it....
Bitcoin entrepreneur Charlie Shrem begins his stint in prison today, having been sentenced in December to two years behind bars. The 25-year-old will serve his time at Lewisburg Federal Prison Camp in Pennsylvania for aiding and abetting the operation of an unlicensed money transmitting business. "Of course I'm scared, but I'll get through it. I've prepared," he told CoinDesk in a recent interview. Of his 24-month sentence, Shrem hopes to only serve nine or 10 months and indicated that, while it's hardly going to be a pleasant experience, it could be a lot worse. He will be sharing a cell....
Charlie Shrem, former CEO of early bitcoin exchange BitInstant, has been released from prison after serving a sentence for money laundering and unlicensed money transmission. Shrem Released From Prison. Shrem announced his release (which actually happened a few weeks ago) in a blog post on his home page, titled “Onward.” In the post, he said he and his partner Courtney were living temporarily in southern Pennsylvania, and that he was enjoying “all the small things I missed while I was away.” Shrem thanked the people who supported him and communicated with him while he was in prison,....