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January 27, 2014Law & sovereign policyEnforcement actionsdocumented

BitInstant CEO Charlie Shrem is charged

U.S. prosecutors charged Charlie Shrem and Robert Faiella over an alleged scheme to transmit bitcoin to Silk Road customers.

The complaint accused Shrem of operating and aiding unlicensed money transmission and failing required anti-money-laundering controls. Shrem later pleaded guilty to aiding and abetting unlicensed money transmission.