CryptoCoinsInfoClub.com

Bitcoin Founder Jail

Bitcoin Evangelist Charlie Shrem Released From Prison

Bitcoin Evangelist Charlie Shrem Released From Prison

Bitcoin Evangelist Charlie Shrem Released from Prison Join our community of 10 000 traders on Hacked.com for just $39 per month. Bitcoin advocate and entrepreneur Charlie Shrem, the founder of bitcoin exchange BitInstant who was arrested in arrested and convicted in 2014 and held in a high-security federal prison camp since March 2015 has now been released from imprisonment. Bitcoin entrepreneur Charlie Shrem, the former vice chairman of the Bitcoin Foundation and founder and CEO of bitcoin exchange BitInstant has been released from prison. The bitcoin evangelist spent time in a high-security federal prison camp in Pennsylvania since March 30, 2015, after being convicted on charges of money laundering and acting as an unlicensed money transmitter. For those not in the know, CCN ran a piece in January 2014, immediately after his arrest that detailed how Charlie Shrem had done nothing wrong . A few weeks ago, I was released from Lewisburg FPC. I want to thank the hundreds of people who wrote, sent books, money, magazines and their support. There are no words to describe my appreciation and affection to all of you. Thank you so much. wrote Shrem in a public blog post yesterday, the first since his release. A picture of Shrem with his girlfriend Courtney Warner accompanied the post. Currently, Imhome in southern Pennsylvania where Courtney and I have relocated temporarily. We will spend the summer months enjoying the outdoors, good food, family, friends and the small things that I missed while I was away, and at the same time transition backinto normal life. Im grateful for the opportunity to be back home. Im excited to move forward onto new projects and looking forward to seeing what everyone has been working on! Feel free to reach out if youd like to say hello! Charlie S Continue reading >>

Bitcoin Scam Ends In Jail As Immigrant's American Dream Fades

Bitcoin Scam Ends In Jail As Immigrant's American Dream Fades

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Bitcoin Scam Ends in Jail as Immigrant's American Dream Fades Yuri Lebedev was convicted in March of fraud for his role Coin.mx was used by hacking group in laundering money A Florida software engineer who came to the U.S. from Ukraine as a teenager seeking the American dream was sentenced to 16 months in prison for his role in building an illegal bitcoin exchange -- one that allegedly laundered money for a global hacking ring. Yuri Lebedev, 39,was the technology guru behind Coin.mx,which tricked banks into processing bitcoin transactions by disguising them as restaurant-delivery charges and online purchases of collectible items. Lebedev was convicted in March of conspiracy and fraud following a monthlong trial in Manhattan. U.S. District Judge Alison J. Nathan on Friday said Lebedev had abused his impressive technology skills to trick financial institutions, making them unwilling participants in the scheme. Coin.mx was allegedly set up for use by a group of hackers who targeted financial and publishing firms including Dow Jones & Co. in a series of attacks in 2014. Lebedev wasnt accused of money laundering or involved in the hacking, but his role in operating the exchange was critical, prosecutors said. Lebedev, wearing a black suit, stood before sentencing to sa Continue reading >>

Reported Bitcoin 'founder' Craig Wright's Home Raided By Australian Police

Reported Bitcoin 'founder' Craig Wright's Home Raided By Australian Police

Reported bitcoin 'founder' Craig Wright's home raided by Australian police Exclusive: Police search home belonging to Australian entrepreneur and academic, who tech publications claim was key to creation of cryptocurrency and could be figure known as Satoshi Nakamoto Reported bitcoin 'founder' Craig Wright's home raided by Australian police Exclusive: Police search home belonging to Australian entrepreneur and academic, who tech publications claim was key to creation of cryptocurrency and could be figure known as Satoshi Nakamoto Last modified on Tuesday 21 February 2017 12.41EST Police have raided the home of an Australian tech entrepreneur identified by two US publications as one of the early developers of the digital currency bitcoin. On Wednesday afternoon, police gained entry to a home belonging to Craig Wright, who had hours earlier been identified in investigations by Gizmodo and Wired , based on leaked transcripts of legal interviews and files. Both publications have indicated that they believe Wright to have been involved in the creation of the cryptocurrency. Bitcoin creator Satoshi Nakamoto probably Australian entrepreneur, reports claim Other people who say they knew Wright have expressed strong doubts about his alleged role, with some saying privately they believe the publications have been the victims of an elaborate hoax. More than 10 police personnel arrived at the house in the Sydney suburb of Gordon at about 1.30pm. Two police staff wearing white gloves could be seen from the street searching the cupboards and surfaces of the garage. At least three more were seen from the front door. The Australian Federal police said in a statement that the raids were not related to the bitcoin claims. The AFP can confirm it has conducted search warrants to assist th Continue reading >>

What Bitcoin Millionaire Charlie Shrem Learned From Going To Prison

What Bitcoin Millionaire Charlie Shrem Learned From Going To Prison

Then a mistake cost Shrem nearly everything and landed him in prison. A BitInstant user began reselling bitcoin on Silk Road, an underground marketplace known for illegal activity, Shrem explains to Sale. "This guy was a customer of ours," he says. "He bought bitcoin and then would resell [them to people who] would then go buy drugs and stuff like that. I knew about it. I didn't really care and I was a young kid. I didn't care enough to stop it because I was making money." But then Shrem had a change of heart. He sent an email to the user, saying, "I know you're on Silk Road, I know you're reselling. You better stop, you know. You better calm down." His decision not to alert authorities, though, would cost him. Even after shutting down BitInstant, Shrem was arrested, charged with money laundering and operating an unlicensed money-transmitting business. The entrepreneur spent a year in federal prison and lost, or had to spend on legal fees, most of the money he had earned through his website. When he was let out on parole, he got a job washing dishes. Some good did come of the whole ordeal, though. His isolation helped him rebalance himself. "In prison, you have to forget about the world on the outside," Shrem says. "You have no internet, no communications and you're cut off from the whole world. Everything is given to you. You have shelter, you have food, a shower, water. You don't need to spend a dime. You don't have to worry about bills." Working as a dishwasher helped him grow up, too. "In hindsight, it was one of the best experiences," he tells Sale. But, he adds, it was humbling. Shrem says he worked for 11 hours a day, "going from being a millionaire [to] washing dishes for $8 an hour." And yet, he says, "I loved it." Now 27, Shrem, who also appears in the Netfli Continue reading >>

Silk Road Founder Will Get Life In Prison After Losing Court Appeal

Silk Road Founder Will Get Life In Prison After Losing Court Appeal

Silk Road founder will get life in prison after losing court appeal Silk Road founder Ross Ulbricht is set to serve life in prison after he lost his court appeal this week . Ulbricht earned seven convictions including money laundering and narcotics conspiracy for operating the drug marketplace in 2015, filing his appeal later that same year , and arguing it in court in 2016. Ulbrichts appeal claimed that the court should not have seen documents obtained in alleged breach of Fourth Amendment rights, and that it made mistakes during his trial process that should have led to a mistrial. Ulbricht also known as Dread Pirate Roberts online also contended that the lifetime sentence handed down by the judge was unreasonable, forcing him to spend longer in prison than others convicted of similar charges. In this case, his sentence is unusually long due to a kingpin charge prosecutors were able to make stick a conviction usually reserved for major cartel leaders designed to ensure they remain behind bars for the rest of their lives. While Ulbricht himself wasnt a major drug dealer in the classic mold, the hefty sentence shows how law enforcement officials saw his Silk Road network, and how it helped to redefine the global narcotics black market. Continue reading >>

Canadian Court Sends Perpetrator Of Plexcoin Ico Scam To Jail

Canadian Court Sends Perpetrator Of Plexcoin Ico Scam To Jail

Canadian Court Sends Perpetrator of Plexcoin ICO Scam to Jail Authorities in North America seem be among the most proactive in the world with regards to dealing with individual ICOs. The latest example of this comes from Canada where the man behind Plexcoin is now facing jail time while an investigation against him is still ongoing. Also Read: Parity Calls for Ethereum Hard Fork to Reverse $230 Million Bug Qubecs Autorit des Marchs Financiers (AMF), the regulatory and supervisory body of the Canadian provinces financial sector, has announced that the perpetrator of the PlexCoin ICO scam will be going to jail and will have to pay a large penalty along with his company. The Quebec Superior Court sentenced Dominic Lacroix and DL Innov Inc. on Friday to two months imprisonment and fines totaling $110,000 for contempt of court, the maximum penalties applicable by the law. This penalty is among the most severe ever given for contempt of court by the tribunal, the AMF notes. This is while the asset freezing orders against Dominic Lacroix and DL Innov Inc. are maintained and the AMF is continuing its investigation to determine whether charges will be laid against the accused and his company in this case. As was reported at the time, Dominic Lacroix and DL Innov Inc. were convicted of contempt of court on October 17, 2017. The judge then pointed out that the evidence filed by the AMF demonstrated beyond doubt that Dominic Lacroix and DL Innov Inc., under the brand of Plexcorps and Plexcoin, had continued to solicit and offer consumers an investment in Plexcoin, an ICO token, despite the fact that they were targeted by orders preventing them from doing so since July 20, 2017. The judgment declaring Dominic Lacroix and DL Innov Inc. guilty of contempt of court was appealed. Earli Continue reading >>

Bitcoin Exchange Ceo Arrested For Money Laundering

Bitcoin Exchange Ceo Arrested For Money Laundering

Bitcoin exchange CEO arrested for money laundering by Jose Pagliery @Jose_Pagliery January 28, 2014: 10:16 AM ET Charlie Shrem is the CEO of BitInstant. He was arrested by federal authorities on Sunday. U.S. government agents have arrested Charlie Shrem, the CEO of Bitcoin exchange BitInstant, charging him with laundering money for customers of online drug bazaar Silk Road. The U.S. attorney in the Southern District of New York said Shrem helped someone he hadn't met in person, Robert Faiella, sell more than $1 million worth of bitcoins to Silk Road customers. Faiella, a 52-year-old Florida man, allegedly ran an underground Bitcoin exchange using the alias BTCKing. Shrem was arrested at John F. Kennedy International Airport in New York on Sunday, and Faiella was arrested at his home in Cape Coral, Fla., on Monday, prosecutors said. Both are charged with conspiracy to launder money and operating an unlicensed money transmitting business. Additionally, Shrem faces a charge for not tipping off the feds to what was allegedly going on. Related story: Inside Silk Road's drug market Shrem, 24, is a major player in the Bitcoin world. The BitInstant exchange, based in New York City, lets people buy bitcoins locally at more than 700,000 locations in the United States, as well as Brazil, Russia and elsewhere. It received a $1.5 million investment last year from Cameron and Tyler Winklevoss. Shrem is also vice chairman of the Bitcoin Foundation, one of the currency's biggest advocates. The Winklevoss twins said in an emailed statement that they are "deeply concerned" about Shrem's arrest. "When we invested in BitInstant in the fall of 2012, its management made a commitment to us that they would abide by all applicable laws - including money laundering laws - and we expected nothin Continue reading >>

Charlie Shrem - Wikipedia

Charlie Shrem - Wikipedia

Director of Business & Community Development, Charles "Charlie" Shrem IV (born November 25, 1989) [1] is an American entrepreneur and bitcoin advocate. He co-founded the now-defunct startup company BitInstant , and is a founding member of the Bitcoin Foundation , formerly serving as vice chairman. In 2017, he joined Jaxx as its director of business and community development. In December 2014 he was sentenced to two years in prison for aiding and abetting the operation of an unlicensed money-transmitting business related to the Silk Road marketplace. He was released from prison around June 2016. As a college senior in 2011, Shrem started investing in bitcoin . Soon after, the bitcoin service Shrem was using crashed, and he lost his bitcoins. Shrem and Gareth Nelson, a friend he met online, had similar frustrations with the length of time it took to buy and sell bitcoin on exchange sites. They started BitInstant , a more user-friendly company that charged a fee for users to purchase and make purchases with bitcoins at over 700,000 locations, providing temporary credit to speed up transactions. [1] [5] Initially a side project, BitInstant soon needed to grow, at which point Shrem received a $10,000 loan from his mother. [1] [6] Shortly thereafter, BitInstant received $125,000 from angel investor Roger Ver , [5] and, in the fall of 2012, $1.5 million from a group of investors led by Winklevoss Capital Management . [7] By 2013, BitInstant was processing approximately 30% of all bitcoin transactions. [7] BitInstant operated from September 2011 until July 2013. [8] [9] At the Bitcoin 2013 conference in San Jose, California , Shrem spoke about the challenges facing bitcoin companies and the need for them to comply with regulations, as well as the challenges of properly explain Continue reading >>

Bitcoin: Can Cryptocurrency Become A Trillion-dollar Market? | Fortune

Bitcoin: Can Cryptocurrency Become A Trillion-dollar Market? | Fortune

After spending a year in prison, Bitcoin pioneer Charlie Shrem has a new job and a new mission: Strengthening the ecosystem of blockchain assetsand, just maybe, helping build the future of the Internet. My word is gold, says Charlie Shrem, glass of absinthe in hand, light winking off a pinkie ring he wears that is embossed with a Bitcoin symbol. And I make sure everyone gets paid. Bitcoins first felon is in his favorite mode: full-on bluster. Were in Sarasota, where he lives, perched on stools at Pangea Alchemy Lab, a faux-speakeasy tucked behind a curtain in the back of a sandwich shop. The bartender is a bearded anarchist who, after making our drinkshe drips water from a sort of four-armed decanter onto sugar cubes suspended on slotted spoons above glasses of French absintheasks if Ive read Debt: The First 5,000 Years , by the anthropologist David Graeber. Shrem has been offering plenty for the bartender to eavesdrop on, a discourse that features words like Bitcoin, blockchain, digital currency. Shrem after pleading guilty in September 2014. Before his fall from grace, Shrem was living the high life as a Bitcoin millionaire . Now, at 27, he once again has something to prove. Ten months after his release from federal custody, he has a new job, and hes looking to mount a comeback. Its happening just as digital currencies are in the midst of an epic explosion. Bitcoin and its ilk are now worth $107 billion, six times their value at the beginning of the year. Its either the beginning of a global financial realignmentor a bubble of historic proportions. These days as much as $6.6 billion in digital tokens changes hands every day, and even mainstream players such as Goldman Sachs (gs) , Visa (v) , Capital One, Nasdaq, and the New York Stock Exchange have invested in the un Continue reading >>

Silk Road's Founder Is In Jail For Life, But The Dark Web Only Grows

Silk Road's Founder Is In Jail For Life, But The Dark Web Only Grows

Get Reason's print or digital edition before its posted online "One sane voice fighting tons of nonsense." Silk Road's Founder Is in Jail for Life, but the Dark Web Only Grows Making popular things illegal rarely diminishes their use. Ross Ulbricht was a quiet nerdan Eagle Scout who never cursed. Then he became a libertarian, and he decided, "I want to use economic theory as a means to abolish the use of coercion." He viewed laws against drugs as coerciongovernment force that stops people from living the way they want. So he created a website called Silk Road. Silk Road let people buy and sell contrabandmostly drugsusing bitcoin. The site became successful quickly. It soon carried a billion dollars in transactions. Because Silk Road didn't use dollars, it was also private, said Ulbricht. "The State is unable to get its thieving murderous mitts on it." But he was wrong. Ulbricht slipped up, using his real name in an internet forum, and the FBI found him and jailed him. A jury, looking at his former website, convicted him of things like "conspiracy to traffic narcotics." He was clearly guilty of that. But then Judge Katherine Forrest said that because "Silk Road was a black market of unprecedented scope" she would sentence Ulbricht to "double life plus 40 years, without parole." That's a longer sentence than many murderers get. My former Fox colleague Bill O'Reilly applauded it. "We all agree here," he told his TV panel. "Life in prison without parole! Any other wiseguys want to do it, that's what you are gonna get." Give me a break. Locking some people up forever will not stop sales of drugs. Americans should have learned that from our last attemptProhibition. Making popular things illegal rarely diminishes their use. People still buy the banned items, but now they buy Continue reading >>

Bitcoin Seller Gets A Year Of Jail Time

Bitcoin Seller Gets A Year Of Jail Time

Jeff Francis March 1, 2018 12:30 pm A man from Pennsylvania has been sentenced to spending a year and a day in federal prison for selling $1.5 million in Bitcoin to undercover federal agents. A person selling Bitcoin face-to-face with strangers may worry about being robbed by criminals . Such instances are becoming a bit more common as the acceptance and use of the cryptocurrency continues to go up. A man from Pennsylvania found himself in a tight situation by selling Bitcoin, but he didnt find himself the target of a criminal assault. Instead, he found himself in legal hot water by selling the virtual currency to undercover federal agents, and now hes going to jail for it. The Bitcoin seller is Eldon Stone Ross, 24, and he was charged with conducting an unlicensed money transmitting business after being nabbed by federal authorities. Between January 2015 and November 2016, he made bitcoin-to-cash and cash-to-bitcoin transactions and did not report them. All told, Ross sold $1.5 million of the daddy of cryptocurrencies to undercover federal agents. Back in October 2017, he admitted to selling $50,000 of cryptocurrency to Homeland Security agents. The prosecution against Ross is something quite new. The assistant US Attorney who prosecuted the seller said, We dont see many of these casers. Its the first Ive done here. Ross was found guilty and was sentenced to a year and a day in federal prison. After that, he will have to serve three years of supervised release. Ross also has to surrender to the courts the $40,000 he made in commissions. The reason why Ross got into trouble was that he made no effort to get any identifying information from the undercover agents, not to mention being unlicensed. A point to consider is that financial institutions, including cryptocurrenc Continue reading >>

Can I Go To Jail For Using Bitcoin?

Can I Go To Jail For Using Bitcoin?

Bitcoin and similar crytpocurrencies have been around for years, but Bitcoin is getting a lot more attention than usual in 2017, primarily based on the fact that such currencies have risen in value six times over since the start of the year, and $6.6 billion in digital currencies are now traded daily. This growth in digital currencies is having some effect on mitigating the cloud of controversy that has hung over Bitcoin and similar currencies, which is partly due to the mysterious origins of Bitcoin (for years its inventor remained anonymous) and the frequent use of Bitcoin in criminal transactions. But, as digital currency grows in popularity, more individuals and businesses are justifiably interested in learning more while understandably cautious about the legality. Digital Currency Usage Is Not Inherently Illegal Individuals and businesses are permitted to use Bitcoin and other similar currencies, although some states such as New York do impose licensing requirements on certain parties. Under New York States recently promulgated BitLicense rules , parties engaged in the following activities are required to obtain a BitLicense from the state if they are conducting business in New York or with people who reside in New York: Storing, holding, or maintaining custody or control of virtual currency on behalf of others Buying and selling virtual currency as a customer business Performing exchange services as a customer business Controlling, administering, or issuing a virtual currency Customers and merchants who merely conduct transactions involving digital currency are not required to obtain a license in New York. The most common situations in the news involving criminal liability for use of Bitcoin and similar currencies is when the currency is used for illegal purposes Continue reading >>

A 26-year Old Bitcoin Entrepreneur Was Handed Prison Time, And The Experience Only Confirmed His Belief In The Cryptocurrency

A 26-year Old Bitcoin Entrepreneur Was Handed Prison Time, And The Experience Only Confirmed His Belief In The Cryptocurrency

A 26-year old Bitcoin entrepreneur was handed prison time, and the experience only confirmed his belief in the cryptocurrency The rise of 26-year old Charlie Shremwas swift. So was his fall. The self-professed computer geek turneddivisive digital currencyentrepreneur won notoriety as the founder ofBitInstant. The firm took off, attracting investors like the Winklevoss twins , and helping popularize bitcoin. Then, his whole world came crashing down. He was charged with operating an unlicensed money transmitting business. He pled guilty, and was given prison time. He had "knowingly transmitted money intended to facilitate criminal activity- specifically, drug trafficking on Silk Road," according to a press release by the United States Attorney's Office, Southern District of New York . Shrem got of prison earlier this year, and his experience there hasn't deterred his faith in bitcoin and blockchain, the technology behind it. In fact, an incident with a prison guard andmackerels, the currency of choice in prison, only confirmed his belief in an alternative currency system. Shrem opened up about his prison experience and his past on Wall and Broadcast , apodcast hosted by TABB Group COO Alex Tabb,TABBForumproducerAnna Stumpfand Vested CEO Dan Simon. Raised in a deeply religious orthodox Jewish household, Shrem describes himself as an "outcast" at Yeshiva high school. "I just loved computers," he said in the podcast. "I would hang out in the internet chat rooms and all of the places where all socially awkward people hang out." Shrem first heard about the concept of Bitcoinfrom a friend in an internet forum he was a part of. "There was no website or anything," he said in the podcast. "Only a white paper," referring to the research paper released under the pseudonym Satoshi N Continue reading >>

Dogecoin Exchange Founder Ryan Kennedy In Hot Soup Over Theft Of Bitcoins, Money Laundering

Dogecoin Exchange Founder Ryan Kennedy In Hot Soup Over Theft Of Bitcoins, Money Laundering

Dogecoin Exchange Founder Ryan Kennedy In Hot Soup Over Theft of Bitcoins, Money Laundering Dogecoin exchange founder and convicted rapist Ryan Kennedy lands in fresh hot soup over the theft of Bitcoins in excess of 1 mln, that were then spent on a luxury lifestyle. He was also charged with money laundering and fraud. Dogecoin exchange founder and convicted rapist Ryan Kennedy lands in fresh hot soup over the theft of Bitcoins, money laundering and fraud. British police have released a statement saying that Ryan Kennedy has been taken into custody. Kennedy is the founder of the now shuttered Moolah Dogecoin exchange , which he had started under the name of Alex Green. During his stint as Green, Ryan Kennedy became infamous for giving away or tipping generous amounts of Dogecoins to complete strangers. He was also known for sponsoring a NASCAR driver. According to a statement by the Somerset Constabulary, Ryan Kennedy has been charged with offenses under the Fraud Act of 2006 and Proceeds of Crime Act 2002. The police say that the alleged offences took place in a period between January to December 2014. The police in a statement describing the nature of the offenses said, This included the theft of Bitcoins to a value in excess of 1 mln, that were then spent on a luxury lifestyle. Ryan Kennedy has been investigated by the Economic Crime Team Investigators from Avon and Somersets Complex Crime Team for three years. It should be noted that Ryan Kennedy is already serving an 11-year prison term after he was convicted of raping three women over a seven year period according to the British newspaper, The Daily Mail . According to the newspaper, Kennedy faced 14 charges, including 11 rapes but after a two-week trial he was acquitted of three counts and eight were left to lie Continue reading >>

Charlie Shrem (@charlieshrem) | Twitter

Charlie Shrem (@charlieshrem) | Twitter

This timeline is where youll spend most of your time, getting instant updates about what matters to you. Hover over the profile pic and click the Following button to unfollow any account. When you see a Tweet you love, tap the heart it lets the person who wrote it know you shared the love. The fastest way to share someone elses Tweet with your followers is with a Retweet. Tap the icon to send it instantly. Add your thoughts about any Tweet with a Reply. Find a topic youre passionate about, and jump right in. Get instant insight into what people are talking about now. Follow more accounts to get instant updates about topics you care about. See the latest conversations about any topic instantly. Continue reading >>

More in cryptocurrency