Once the Vice Chairman of the Bitcoin Foundation and CEO of BitInstant, Charlie Shrem’s fall from grace, began at JFK airport in New York where police arrested him on charges of money laundering and acting as an unlicensed money transmitter. Authorities alleged Shrem laundered more than $1 million. Shrem faced a maximum sentence of 30 years in prison.
Shrem’s true story starts with BitInstant and his nightlife lifestyle via his Bitcoin accepting club in New York. Shrem was ultimately sentenced to two years in prison for Silk Road related charges. U.S. District Judge Jed Rakoff in Manhattan ordered Shrem to forfeit $950,000 after his pleading guilty in September last year.
“[Shrem] was knowingly, willfully, and to some extent excitedly, even passionately involved in activity that he knew was a serious violation of the law and that was promoting the evil business of trafficking in drugs,” Judge Rakoff said. Shrem ultimately penned a goodbye blog on his departure to prison. On Roger Ver’s new forum, located at Bitcoin.com, Shrem held an AMA from his prison. He wrote:
I’m Charlie Shrem, Bitcoin