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RISKY BUSINESS Bitcoin Exchange CEO Arrested George Frey/Getty

Bitcoin Exchange CEO Arrested

Bitcoin Exchange CEO Charlie Shrem was arrested today at JFK Airport and charged with money laundering for his company’s involvement with Silk Road, an online black market. U.S. District Attorney Preet Bharara filed charges against Shrem and a co-conspirator for selling over $1 million in bitcoins to Silk Road users, who would then use the currency to purchase illegal drugs and other items. "Hiding behind their computers, both defendants are charged with knowingly contributing to and facilitating anonymous drug sales, earning substantial profits along the way," said DEA agent James Hunt.

January 27, 2014 11:41 AM