Bitcoin Exchange CEO Charlie Shrem Arrested On Money Laundering Charge

Posted by samzenpus on Monday January 27, 2014 @07:48AM from the paying-the-price dept.

An anonymous reader writes "Charlie Shrem, the chief executive officer of bitcoin exchange BitInstant, has been arrested and charged with money laundering. 'In the federal criminal complaint, the Southern District of New York charges Shrem, the 24-year-old CEO of BitInstant, with three counts, including one count operating an unlicensed money transmitting business, one count of money laundering conspiracy and one count willful failure to file suspicious activity report. Robert Faiella, a Silk Road user who operated under the name “BTCKing,” was charged with one count of operating an unlicensed money transmitting business and one count money laundering conspiracy.'"

1 of 330 comments (clear)

Min score:

Reason:

Sort:

Re:And so it begins... by Blue+Stone · 2014-01-27 08:52 · Score: 4, Funny

If they treat him the same as HSBC, he'll be OK. Slap a minor fine on him (5 weeks-worth of profit) and the government take their cut of the proceedings.
Now, the government wouldn't treat individuals charged with wrongdoing differently to multi-million/billion dollar businesses, would they?

--
Corporation, n. An ingenious device for obtaining individual profit without individual responsibility. - Ambrose Bierce