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Author Topic: [2014-09-06] Bitcoin Promoter Charles Shrem Pleads Guilty  (Read 556 times)
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September 06, 2014, 12:41:40 PM

Mr. Shrem, 24 years old, pleaded guilty to aiding and abetting the operation of an unlicensed money-transmitting business. Robert Faiella, who the Manhattan attorney's office alleged was Mr. Shrem's accomplice, also pleaded guilty Thursday to operating an unlicensed money-transmitting business.

In both of the plea agreements, the sentencing guidelines include 57- to 60-months imprisonment. There is also a maximum fine of $250,000 or twice the amount of money derived from the crime or two times the loss to the victim, whichever is greatest. The final sentence will be determined by U.S. District Judge Jed Rakoff.

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