If you thought the Silk Road ended with the trial of Ross William Ulbricht then you are definitely wrong. Even after the arrest of Ross Ulbricht aka “Dread Pirate Roberts,” it was soon to be established that during the investigation into the infamous black market site, the Silk Road, two US feds Carl Force and Shaun Bridges used their position to extort and steal bitcoins. Apart from that, Force illegally signed a $240,000 contract with the 20th century Fox to make a movie about the Silk Road investigation. Unfortunately for the two, they got busted and the cop responsible for their busting is none other than William Frentzen. It is due to this achievement and experience into busting the rogue feds that Frentzen was invited to be among the list of expert speakers at the next Blockchain & Bitcoin Africa Conference which is going to be held on the 3-4 of March 2016 in Johannesburg. This will be a two day event focused on cryptocurrency.
William Frentzen, a United States Prosecutor played an important role as part of the prosecution team that put former Secret Service agent Shaun Bridges safely behind bars. Bridges, a former Secret Service agent was found guilty of money laundering and obstruction of justice. He used his position to steal thousands of bitcoins while still investigating illegal drug and other contraband activities on the Silk Road market. He did not stop there but went ahead and moved the stolen bitcoins into an account at an online digital currency exchange based in Japan. After sometime, Bridge liquidated the bitcoins into US$820,000 and transferred the funds to a personal investment account in the US.
Frentzen also featured among the prosecutors against Carl Force who pleaded guilty to charges of extortion, obstruction to justice and money-laundering. Force who was a former DEA agent stole more than $700,000 in digital currency bitcoin. He also secretly solicited payment from the Silk Road founder for information about the US investigation. During the Silk Road investigation, Force posed as a drug dealer with connections to hit-men using the alias Nob. He was tasked with the duty of communicating with Ross, who was the man who created the Silk Road and ran it till his ultimate arrest in 2013.
Force managed to convince Ulbricht who went by the alias Dread Pirate Roberts to pay him $50,000 in bitcoin by pretending he had information about the investigation in August 2013. Even though he reported the discussion to the DEA, he falsely claimed that no payments were made while he secretly diverted the funds to a personal account. He also went ahead without using the authorities’ knowledge and used another online moniker French Maid and offered Ulbricht information on the investigation for an amount totaling to $98,000 in bitcoin. Among the other crimes that he committed included investing in a company that brokered bitcoin and also served as a chief compliance officer while still with the DEA.
The Silk Road creator Ross Ulbricht aka “Dread Pirate Roberts” was arrested in 2013 and later sentenced to life in prison following his earlier convictions on seven charges related to conspiracy, money laundering and narcotics.
The MC of this year’s second annual Blockchain and Bitcoin Africa Conference will be Ian Merrington who is the CEO of the Cape Innovation and Technology Initiative. The other nine speakers during the event will include experts from around the world to host the different talks with the main speaker for the event to be announced on a later day.
During the event, delegates will get the opportunity to get the knowledge of William Frentzen and other experts on the panel. His main topic of discussion will be the challenges posed to law enforcement by certain digital currencies and topics of mutual concern between the industry and the government. His schedule is at 14:45-15:30. Some of the other hot topics of discussion during the event will include: the banks of the future; how Bitcoin can help build the next generation of financial services; the potential for bitcoin as an unregulated currency in Africa and Blockchain is the Future: Blockchain Innovation and helping developing nations with land titles and government transparency. The event will adjourn on the 4th of March 2016at 17:00.