Ex-Federal Agent Faces 20 Years in Prison for Bitcoin Theft

Shaun Bridges, former US agent for the Drug Enforcement Administration plead guilty on August 31 to charges of wire fraud and money laundering. Bridges will be sentenced by a judge in December and faces a maximum 20 years in prison and US$250,000 fine.

Bridges, 33, appeared in a San Francisco Federal Court admitting to extortion, moving US$800,000 in bitcoin under his possession along with obstruction of justice in the Silk Road case. After this news, Ross Ulbricht’s Lawyers immediately stated that these charges “remove any question about the corruption that pervaded the investigation of Silk Road.”

During the hearing, US District Judge Richard Seeborg ordered Bridges to wear an electronic monitoring device at his residence because prosecutors were informed hours earlier he tried to change his name during the trial. Federal agents learned that Bridges had made multiple attempts to change his identity, including his social security. The investigation found a few illegal firearms with the former officer as well. The Baltimore-based taskforce’s other member, Carl Force, of the DEA unit also admitted to guilt back in June for the same crimes.

In a release given to the public by the US Department

Read more ... source: Cointelegraph