Today's Hard|Forum Post
Today's Hard|Forum Post

Friday September 05, 2014

Bitcoin Exchange CEO Pleads Guilty To Enabling Silk Road Drug Deals

How much time do you think this guy will get in prison? We should take bets. In bitcoin. big grin

Charlie Shrem, formerly the CEO of BitInstant, and Robert Faiella, a bitcoin seller, were arrested earlier this year and charged with exchanging more than $1 million worth of Bitcoins that authorities say the two knew would be used to buy illicit drugs and other paraphernalia on the Silk Road. To make matters worse, while Shrem was CEO he was simultaneously BitInstant’s compliance officer, responsible for ensuring that his company followed the law.