Category Archives: e-commerce

Ross Ulbricht of Silk Road convicted on all 7 counts

courtesy of Victor Habbick/

courtesy of Victor Habbick/

All it took was a jury and three hours of consideration after hearing the activity that has been taking place to indict Ross Ulbricht of his million dollar illegal and global drug selling activity. What has been most interesting is this man was arrested in San Francisco and actually caught with his hands in the cookie jar (on his lap top, logged in) and moving funds. It is quite amazing especially that someone who supposedly felt Silk Road should be kept quiet when Bitcoins are used was so loud about it as proof has been found in journals on his personal laptop of his illegal activity.

Testimony from a former FBI agent has been given against Ulbricht and has shown the global activity taken place between the United States and Iceland plus given the length of time it has occurred including the transactions. After adding up transactions and Bitcoin rates the currency rate equals into the high million dollar rate.

There has already been commentary remarks stating of appeals taking place because certain defense remarks could not be made. Something the Federal prosecutor did mention is Ulbricht is in quite heavy for his illegal activity as it does not only involve drugs so it will be quite interesting to see how the 4th Circuit of Appeals wishes to handle this matter.



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