Feds Charge Bitcoin Startup Founder With Money Laundering

Dated: January 28 2014

Views: 400

Less than a year after raising $1.5 million for his Bitcoin exchange start-up BitInstant, CEO Charlie Shrem has been charged with money laundering. A news release from U.S. prosecutors in Manhattan said that Shrem knowingly facilitated illegal purchases on the now-shuttered underground drug marketplace Silk Road.Silk Road was a Web site that allowed users to buy everything from heroin to fake IDs. To help preserve users' anonymity, the site required all transactions to be conducted in bitcoins. According to the government, a man named Robert Faiella worked with Shrem to sell bitcoins to Silk Road users. The two men allegedly sold more than $1 million worth, with Shrem giving Faiella a volume discount on BitInstant's fees. Read more...
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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

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