Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek

Trending

Filed under: News | Technology News

 

November federal trial set in NY 'Silk Road' case

Feb 7 2014, 11:12pm CST | by

7 Updates
November federal trial set in NY 'Silk Road' case
 
 

YouTube Videos Comments

Full Story

November federal trial set in NY 'Silk Road' case

NEW YORK (AP) — The Internet entrepreneur accused of being the mastermind behind an online marketplace for illegal drug sales called the Silk Road was scheduled Friday to go on trial in November.

U.S. District Judge Katherine Forrest set the Nov. 3 date as 29-year-old Ross William Ulbricht pleaded not guilty to four charges in a rewritten indictment returned earlier this week.

He was accused of drug trafficking, computer hacking, money laundering and running a continuing criminal conspiracy for his role in operating the black market site.

Assistant U.S. Attorney Serrin Turner said the government may bring additional charges before trial, and Forrest told him to file any superseding indictment by March 31. He said the government would present its "voluminous" evidence to a jury in less than a month once the trial begins.

Prosecutors say Ulbricht went by the online handle the Dread Pirate Roberts, an apparent reference to a character in "The Princess Bride," and turned the underground site into a place where anonymous users could buy or sell contraband and illegal services.

Authorities say Silk Road, which had nearly 1 million registered users by July, generated more than $1 billion in illicit business from January 2011 through September. The website used Bitcoin, the tough-to-track digital currency, before it was shut down.

Ulbricht was arrested last year at a public library in San Francisco, where he lived. He remains incarcerated without bail.

During his court appearance Friday, Ulbricht stood in his prison blue uniform with his hands clasped behind his back, answering "not guilty" each time Forrest read aloud a charge against him.

His lawyer, Joshua Dratel, said he would be filing motions to challenge the charges.

Federal investigators say Silk Road users anonymously browsed through nearly 13,000 listings under such categories as cannabis, psychedelics and stimulants. Authorities said many of the transactions were illicit.

Source: AP

 

iPad Air Giveaway. Win a free iPad Air.

You Might Also Like

Updates


Sponsored Update

Update: 7

Silk Road Bitcoins Worth $19.2m All Sold to Mystery Bidder

Source: IBTimes UK

"Silk Road" Presented By The Gansu Dance Theater Dress Rehearsal
Some 30,000 bitcoins were sold at auction at current market rates of about $640 a pie ...
Source: IBTimes UK   Full article at: IBTimes UK Jul 2 2014, 7:23am CDT
 


Advertisement


Update: 6

China to build new Silk Road rail link to Pakistan

Source: Business Balla

"Silk Road" Presented By The Gansu Dance Theater Dress Rehearsal
Beijing, July 1 (IANS) China has allocated funds for building a railway line from the city Kashgar in northwestern Xinjiang Uygur autonomous region to Pakistan's deep-sea ...
Source: Business Balla   Full article at: Business Balla Jul 1 2014, 7:16am CDT
 

More From the Web

Update: 5

Regulation Around Bitcoin Starting to Clear, Says Circle CEO

Source: All Things Digital

"Silk Road" Presented By The Gansu Dance Theater Dress Rehearsal
Bitcoin watchers today will be anxiously waiting for the results of an auction of 30,000 bitcoins seized last year as part of the Federal Bureau of Investigation's crackdown on the S ...
Source: All Things Digital   Full article at: All Things Digital Jun 30 2014, 6:46am CDT
 

Update: 3

Feds auction $17 million in Silk Road bitcoin

Source: Fortune

"Silk Road" Presented By The Gansu Dance Theater Dress Rehearsal
The U.S. government is about to put $17.4 million in bitcoin on the a ...
Source: Fortune   Full article at: Fortune Jun 12 2014, 6:48pm CDT
 

Update: 2

The Boring Bitcoin Report: June 9

Source: Forbes

People's Bank of China Governor Zhou Xia
Bitcoin suffered some serious setbacks in the past year.  The most prominent of these were hostility from the People’s Bank of China, the Department of Justice’s seizure of Silk Road, and the massive failure at Mt. Gox.  However, bitcoin is proving to be res ...
Source: Forbes   Full article at: Forbes Jun 9 2014, 1:47pm CDT
 

Update: 1

Life after Silk Road: how the darknet drugs market is booming

Source: The Guardian Technology

"Silk Road" Presented By The Gansu Dance Theater Dress Rehearsal
Buying drugs and weapons online is far easier since the closure of Silk Road in 2013, after a dozen new sites have taken its place Cont ...
Source: The Guardian Technology   Full article at: The Guardian Technology May 30 2014, 7:00am CDT
 

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/30" rel="author">Associated Press</a>
The Associated Press (AP) is one of the largest and most trusted sources of independent newsgathering, supplying a steady stream of news to its members, international subscribers and commercial customers.

 

 

Comments

blog comments powered by Disqus

Latest stories

 
Alex Rodriguez's 2012 Hip Injury Triggered Chase Headley Acquisition
Alex Rodriguez's 2012 Hip Injury Triggered Chase Headley Acquisition
Suspended New York Yankees third baseman Alex Rodriguez's hip injury two years ago triggered a two-year pursuit of former San Diego Padres third baseman Chase Headley, per Yankees general manager Brian Cashman.
 
 
Colbie Caillat Removes Makeup for New Video
Colbie Caillat Removes Makeup for New Video
The Artist Talks About How Exhausting The Industry Can Be At Times.
 
 
Katherine Webb Shows Off Sexy Instragram Photo
Katherine Webb Shows Off Sexy Instragram Photo
Webb posted the photo while on her honeymoon.
 
 
 

About the Geek Mind


Read more about The Geek Mind.