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  • The founder of the Silk Road drug marketplace has been sentenced to life in prison without parole

    05/30/2015 9:30:40 AM PDT · by Beave Meister · 33 replies
    Yahoo.com ^ | 5/29/2015 | Natasha Bertrand and Michael B Kelley
    The convicted mastermind behind the world's largest online narcotics emporium has been sentenced by a federal judge to two terms of life in prison and three lesser sentences, USA Today reports. The judge also ordered Ross Ulbricht, 31, to forfeit $184 million dollars. The website made over $187 million before it was shut down in 2013. The government estimated that roughly $1.2 billion in illegal drug transactions took place on Silk Road. The judge said it was a "demand expanding operation" and that what Ulbricht did was thoughtful, as opposed to just being an economic experiment. She added that he...
  • US federal agent investigating Silk Road admits $800,000 bitcoin theft

    09/01/2015 7:05:19 AM PDT · by Citizen Zed · 7 replies
    The Guardian ^ | 9-1-2015 | Reuters
    A former US secret service agent has pleaded guilty to stealing over $800,000 worth of bitcoin during an investigation into online drug marketplace Silk Road. Shaun Bridges, 33, appeared in federal court in San Francisco and admitted to money laundering and obstruction of justice. Silk Road operated for more than two years until it was shut down in October 2013 having generated more than $214m in sales of drugs and other illicit goods using bitcoin, prosecutors said. Ross Ulbricht, Silk Road’s creator, who authorities say used the alias Dread Pirate Roberts, was sentenced to life in prison after a federal...