Former Federal Agent Shaun Bridges Gets 71 Months for Silk Road Fraud

Former Secret Service agent Shaun Bridges was handed a 71-month prison sentence for fraud he perpetrated over the course of the Silk Road investigation.

Bridges allegedly used the credentials taken from an arrested Silk Road employee, Curtis Green, to transfer $820,000 worth of 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 to his personal account on bitcoin Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term MtGox, and from there, to a Fidelity account.

In August, he pleaded guilty to charges of money laundering and obstruction of justice. He reached a plea deal with prosecutors in June. He had potentially faced a maximum of 20 years in jail.

Judge Richard Seeborg, who presided over the case in the District Court for San Francisco, sided with the prosecution who sought a 71-month sentence. Bridges’ defense team pushed for 3 years. Ars Technica reports that during the sentencing, the defense brought Bridges' former boss and his wife to speak on his behalf. Seeborg admonished the defense for the move, but allowed them to speak.

In siding with the prosecution, he remarked, “From what I can see, it was motivated by greed. No departure or variance is warranted in this case.”

Bridges also addressed the court, accepting full responsibility for his actions and saying that they cost him and his family dearly: “I want it to be clear that I accept full responsibility. My wife has lost everything, she went to college to go to law enforcement and now she has lost it all. I just wanted to apologize to everybody.”

The other federal agent charged for fraud during the Silk Road investigation, Carl Force IV, was handed a 6 ½ year prison sentence in October.

Fallout from the takedown of the biggest online drug bazaar in history, which was powered by bitcoin, continues. The alleged adviser to Silk Road’s convicted operator was recently arrested in Thailand.