Silk Road owner arrested over money laundering charges and allegations of ordering hit on man from Canada

Tweet Ross Ulbricht, allegedly the ‘Dread Pirate Roberts’ and owner of the website Silk Road, was arrested by the FBI in San Francisco today at a public library and his popular website was shut down. Silk Road was an Internet-based website that accepted Bitcoin. Ulbricht was charged with money laundering conspiracy, computer hacking conspiracy and drug […]

SEC charges Texas man with securities fraud for allegedly running Ponzi scheme involving bitcoin investments

Tweet Alleged Ponzi scheme involving bitcoin The U.S. Securities & Exchange Commission announced today that it has charged Texas resident, Trendon Shavers, and an entity he ran called Bitcoin Savings and Trust (“BTCST“), with defrauding investors through the operation of a Ponzi scheme involving bitcoin. Bitcoin is a popular virtual currency. The charges have nothing […]

Uncertainty over recovery of seized funds from PokerStars, Absolute Poker and Full Tilt Poker

Tweet The news on Friday that the U.S. had indicted 11 individuals associated with the operation of the Internet gambling sites PokerStars, Full Tilt Poker and Absolute Poker for violations of U.S. gambling and anti-money laundering laws and bank fraud, has raised questions about the future of the funds held by those entities on behalf […]

U.S. charges 3 Canadians affiliated with PokerStars, Full Tilt Poker and Absolute Poker with money laundering in $3 billion indictment

Tweet The U.S. Attorney and the FBI today unsealed an indictment today charging 3 Canadians with money laundering, bank fraud and illegal gambling in connection with the operation of Internet gambling websites that provide online gambling services to U.S. residents. Eight other individuals, mostly residents of the U.S., were also indicted. The defendants include the […]

Prepaid access and stored value cards used for money laundering

Tweet   According to the most recent information available, stored value cards (or prepaid access) are often used for money laundering and terrorist financing activities. Stored value cards can be used like currency except that they have certain characteristics that make them attractive to criminals – they are: accepted worldwide; reusable and re-loadable; essentially anonymous; […]