Accused Silk Road operator convicted on US drug charges
The mastermind behind the underground website Silk Road was convicted on narcotics and other charges for his role in a scheme that enabled around US$200 million of anonymous online drug sales using bitcoins.
The suspected mastermind behind the underground website Silk Road was convicted on narcotics and other charges on Thursday for his role in orchestrating a scheme that enabled around US$200 million of anonymous online drug sales using bitcoins.
Ross Ulbricht, 30, was found guilty by a Manhattan federal jury on all seven counts he faced after a closely watched four-week trial spilling out of US investigations of the use of the bitcoin digital currency for drug trafficking and other crimes.
The jury of six men and six women needed a little over three hours to deliberate before finding Ulbricht guilty of charges that included conspiracies to commit money laundering, computer hacking and drug trafficking.
Ulbricht, who prosecutors say went by the alias Dread Pirate Roberts in a reference to the 1987 movie The Princess Bride, faces up to life in prison and a mandatory minimum term of 20 years. His sentencing was scheduled for May 15.
Ulbricht has attracted many supporters to his cause, including some who say the government’s case is an attack on internet freedom.