Crimes The Silk Road Founder Was Convicted Of

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Ross William Ulbricht Founder of Silk Road MrketplaceRoss Ulbricht, founder of the online drug bazaar Silkroad was sentenced to life imprisonment last month, signaling the resolve of the government in routing out cyber crimes. However, many people, especially those in the Bitcoin community, do not have any idea as to for what offenses the Silkroad creator was convicted or sentenced.The aim of this article is to provide some information about the sentencing details related to this landmark Silkroad case 1:14-cr-00068-KBF which was adjudicated in the Southern District of New York.

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The five crimes for which Silkroad founder Ross Ulbricht was convicted include:

• Abetting and aiding distribution of drugs

• Computer hacking conspiracy

• Continuing criminal enterprise

• Money laundering conspiracy

• Identification documents fraud

The sentencing details are as follows:

The defendant, Silkroad founder Ross Ulbricht, was committed to the United States Bureau of Prisons custody for:

• Life term for abetting and aiding distribution of drugs (count 2) and for

continuing criminal enterprise (count 4),

• Five years for computer hacking conspiracy (count 5),

• Fifteen years for identification documents fraud (count 6), and

• Twenty years for Money Laundering Conspiracy (count 7), all running concurrently.

As regards where (in which prison facility) the sentence is to be carried out, Ulbricht seems to have a little bit of flexibility. This is because FCI Petersburg I, a lower security prison in Virginia, has been recommended in case he is not considered to pose any “public safety factor” risk. Otherwise, the Silkroad founder would have to serve his sentence in USP Tucson, Arizona, or USP Coleman II, Florida, (second choice). Though the terms of a “supervised release” are included in the sentence, they are not important in view of the fact that two life sentences have been served to him.

BitcoinThe financial penalty applicable to Silkroad creator Ross Ulbricht has been spelled out from page 7 onwards. A lump sum amount of $500 is to be paid immediately to the court clerk. The government believes that he has stashed away a large amount of money and the judge has ordered forfeiture to the tune of $184 million on page 8.

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