The CEO of a bitcoin exchange has been arrested on charges that he illegally trafficked more than $1 million in bitcoins to users of Silk Road, the infamous online drug market, according to a statement from federal prosecutors on Monday, Jan. 27.
Charlie Shrem, the CEO of a bitcoin exchange, and Robert Faiella, an underground bitcoin exchanger, are charged with conspiracy and money laundering. They are also accused of operating their business without a license, prosecutors say.
Schrem was arrested on Sunday at New York's John F. Kennedy International Airport and will be arraigned tomorrow, while Faiella was arrested on Monday at his home in Cape Coral, Florida.
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