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CEO of Bitcoin Exchange charged with money laundering

  • CEO Charlie Shrem of Bitcoin has been charged with money laundering. Authorities say Shrem and co-conspirator Robert Faiella schemed to sell over $1M of Bitcoin to those who used Silk Road. 

    The complaint mentioned that Faiella sold the digital currency to the online drug marketplace and then filled those orders using BitInstant. It also says that Faiella's order were personally processed by Shrem, who himself bought drugs online. 

    BitInsant is one of the largest Bitcoin exchanges in the world and the BBC notes that it's currently offline. 

    Tagged as: bitcoin exchange cep arrested, bitcoin exchange, money laundering bitcoin bitinstant, money news, business news