Ex-Secret Service Agent Bridges Pleads Guilty to Second Silk Road Charge

Shaun Bridges, a former secret service agent, has pleaded guilty to yet another charge of theft of bitcoins in the Silk Road case. Bridges is currently serving time for stealing $800,000 in Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term.

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Bridges pleaded guilty to one count of Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term on Tuesday in San Francisco Federal Court, which adds to his previous charges in relation to his involvement in the illegally run online marketplace. The latter was seized back in 2013 for offering drugs and other illegal products.

Bridges was a member of the Baltimore Silk Road Task Force, which assisted in shutting down the website and the arrest of Ross Ulbricht, the Texas native who operating it. Ulbricht has been convicted and given a life sentence. Despite his role in the investigation, Bridges pleaded guilty to counts of money laundering and obstruction of justice in 2015. He had stolen $800,000 worth of bitcoins from several accounts on the illegal website. Bridges has already received a sentence of 71 months in federal prison in December 2015, but was arrested again before he began serving his sentence.

The Justice Department commented in a press release that Bridges had been re-detained by authorities as new charges were introduced: “Prior to reporting to prison to begin serving his sentence for the 2015 conviction, Bridges was arrested and taken into custody on new charges related to another theft of approximately 1,600 bitcoin, valued at the time of the theft at approximately $359,005, (approximately $6.6 million today) from a digital wallet belonging to the U.S. government,” the Justice Department said in a press release Tuesday.

Bridges has also confessed to using a private key to the US government’s digital wallet and transferring money to his personal digital wallets at other exchanges, according to the Justice Department. Due to his actions, he might be facing 10 years added to his sentence.

Recently, the authorities shut down a similar website AlphaBay, which the first describe as ten times the size of Silk Road.