According to a recent report from Reuters, a former Secret Service agent Shaun Bridges has pleaded guilty on Monday to stealing $820,000 worth of Bitcoin during an investigation of the online marketplace Silk Road, which sent its founder Ross Ulbricht in jail for the lifetime.
The tainted officer appeared in federal court in San Francisco and also admitted to charges of money laundering and obstruction of justice.
It must be noted that another corrupt US agent Carl Force has pleaded guilty to extorting money from Ross Ulbricht, money laundering charges and obstruction of justice and awaits his sentencing on October 19. The Bitcoin community is expecting that the tainted former US DEA agent will be served 20 years in prison.
After Shaun’s admission of Bitcoin crimes, one of Ross Ulbricht’s defense attorneys said, “those charges remove any question about the corruption that pervaded the investigation of Silk Road.”
The online drug website Silk Road operated for more than two years during which it quickly generated more than $200 million in sales of drugs and other illicit goods using Bitcoin. It was shut down following the investigation in the latter half of 2013. Time and again, there have been reports of Bitcoin being used in illegal activities such as child pornography, funding terrorism, cyber crimes and others.
In court on Monday, Bridges admitted his theft made Ulbricht believe that another individual was stealing from Silk Road and helped lead Ulbricht to try to hire someone to kill that person.
The sentencing for Shaun Bridges has been scheduled for December and he is expected to be awarded a minimum of 10 years in prison.
The case also raised questions about the functioning of the judiciary which sent the founder in jail even after it has been uncovered that the investigating officers were involved in unscrupulous activities.