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Title: BitInstant CEO Charlie Shrem Arrested for Alleged Money Laundering! Post by: rhkazani1 on January 28, 2014, 02:50:33 AM http://business.time.com/2014/01/27/bitinstant-ceo-charlie-shrem-arrested-for-alleged-money-laundering/
Posted From bitcointalk.org Android App Title: Re: BitInstant CEO Charlie Shrem Arrested for Alleged Money Laundering! Post by: anderl on January 28, 2014, 03:00:16 AM The complaint alleges that Faiella took orders from
Shrem then filled the orders by transferring funds into an account controlled by Faiella and hosted on a third-party Japan-based Bitcoin exchange MtGox. Together the two allegedly sold over $1 million in Bitcoin to I took the liberty of updating the article above. Shrem hosted BitInstant which traded cash for Bitcoin using the MtGox merchant API (shopping cart). Shrem did not know what the purpose of the exchange was for and Shrem did not actually sell drugs. The users could have bought Bitcoin as an investment or to buy other products. If you go to a bank to exchange Euros for US Dollars and then go to a crack dealer to buy drugs does the bank get arrested for providing you the currency to do so? This is clearly a means of trying to attack Bitcoin. I bet there was some Bank lobbying involved. Title: Re: BitInstant CEO Charlie Shrem Arrested for Alleged Money Laundering! Post by: whtchocla7e on January 28, 2014, 03:02:11 AM If you go to a bank to exchange Euros for US Dollars and then go to a crack dealer to buy drugs does the bank get arrested for providing you the currency to do so? That's not the same situation... Title: Re: BitInstant CEO Charlie Shrem Arrested for Alleged Money Laundering! Post by: anderl on January 28, 2014, 03:06:13 AM If you go to a bank to exchange Euros for US Dollars and then go to a crack dealer to buy drugs does the bank get arrested for providing you the currency to do so? That's not the same situation... Enlighten me |