Topics

Cape Coral (Lee, Florida)
Bitcoin executive Charlie Shrem is accused of money laundering
Bitcoin executive Charlie Shrem is accused of money laundering

NEW YORK — The federal government has arrested one of the biggest names in the bitcoin community in the latest crackdown on digital currencies and their illicit use. Charlie Shrem, chief executive of digital currency exchange BitInstant, stands accused with a Florida man of laundering money through a notorious drug-trafficking website. Shrem is also vice chairman of the Bitcoin Foundation, a nonprofit group aimed at promoting the digital currency. He and codefendant Robert M. Faiella of Cape Coral, Fla., are accused of selling more than $1 million worth of bitcoins to people attempting to buy and sell illegal drugs on the Silk Road website, which the FBI shut down in October. Not...

Loading