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New York executive accused of on-line drug trafficking

A New York City-based Bitcoin company executive has been charged with conspiracy to commit money laundering.  The 24-year-old Chief Executive Officer was said to have conspired with a Bitcoin exchanger to sell over $1 million in Bitcoins to individuals who wished to sell narcotics.  The Bitcoins were claimed to have been sold on a black market website called Silk Road.

It was claimed that the digital currency was being "used to fuel criminal activity," said one federal prosecuting attorney.  The judge in this matter, however, did allow the executive to be released on bail.

The executive's criminal defense attorney contested a number of allegations brought against his client. One included claims of authorities that the client has more than $6 million in assets. His attorney stated this amount instead was money hoped to be raised from investors.

It is claimed that the Silk Road website allowed close to 1 million users to browse through listings for psychedelics, cannabis and stimulants. This website was shut down after the arrest of another individual who is currently incarcerated and awaiting trial. The head of New York's Drug Enforcement Administration claimed those charged were "hiding behind their computers" while making money off of anonymous drug transactions.

Drug charges are not something anyone should take lightly as the penalties can be severe. As anyone charged should be assumed to be innocent until guilt is actually proven, criminal defense attorneys have the right to question all the evidence that is presented against someone who is charged.

These attorneys can also conduct investigations into the manner in which an arrest took place and make determinations as to whether the methods of law enforcement officers were proper.

Source: StarTribune, "Bitcoin exchangers in NY, Fla. are charged with conspiracy in illicit drug website prosecution," Larry Neumeister, Jan. 27, 2014

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