[2014-09-03] BI: 'Bitcoin Millionaire' Charlie Shrem Will Plead Guilty

[bryant.coleman]

http://www.businessinsider.in/Bitcoin-Millionaire-Charlie-Shrem-Will-Plead-Guilty-To-Alleged-Money-Laundering-Scheme/articleshow/41620687.cms

Bitcoin pioneer Charlie Shrem is expected to plead guilty on Thursday to a charge of "unlicensed money transmission " as part of a plea bargain, his lawyer Marc Agnifilo told Reuters last week. Shrem, 24, is also a co-founder and CEO of startup BitInstant.

Shrem was indicted in April for unlicensed money transmission. He was accused of conspiring with Robert Faiella, of Florida, "to sell more than $1 million in bitcoins to the users of Silk Road despite knowing that it would be spent on illegal uses like drug trafficking," Reuters said.
The pair were arrested at John F. Kennedy Airport in New York in January.

[Chef Ramsay]

Even if he does face some prison time it's not like it'll be 'hard time' in a state prison w/ all the home boys. Fed prison is pretty relaxed in most cases.

[BitCoinNutJob]

hold on didnt he say he had less than 100 BTC total just recently?

[fussel-fuel-four]

If this results in a lesser sentence it would be better to do rather than go on an risk a prolonged and heavier sentence. Also IMO the millionaire portion of the article is a little over-estimation specially with the legal costs etc...