Shrem, Faiella, Powell To Become Members of Bitcoin Prisoners Book Club
There are a number of people associated with Bitcoin who have been caught on the wrong side of the law. CECG (Crypto Economics Consulting Group) has started a project to provide them with books when they are in prison. The Crypto Economics Consulting Group is a group of crypto-economists and Bitcoin enthusiasts who are dedicated to developing and supporting the rise of a Bitcoin-based global economy. The CECG team includes Mike Gogulski (a stateless political activist and freelance translator) and Arto Bendiken (cofounder of Dydra). The CECG Book Club. The book club is a long-term....
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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.....
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....
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,....
Charlie Shrem, the Vice Chairman of the Bitcoin Foundation and CEO of currently shuttered Bitcoin exchange, BitInstant, has been arrested. Police arrested Shrem at JFK airport in New York yesterday, on charges of money laundering and acting as an unlicensed money transmitter. It is alleged that Shrem sold / laundered Bitcoin in excess of $1 million for users of narcotics bazaar, Silk Road. Robert M. Faiella, a private Bitcoin exchanger known online as BTCKing, was also arrested today at his Florida home. He is facing similar charges. Shrem is facing a maximum sentence of 30 years in....
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....