Silk Road website founder Ross Ulbricht found guilty on all counts

A jury has ruled Ross Ulbricht, the 30-year-old who founded the black market website Silk Road, guilty on all counts.

The FBI arrested Ulbricht in a sting operation in October 2013 accusing him of being the criminal mastermind running Silk Road where items such as narcotics, fake IDs and other illegal goods were sold using bitcoin for payment.

Preet Bharara, the U.S. attorney for the Southern District of New York, charged Ulbricht with seven counts including money laundering, drug trafficking and computer hacking among other things.

During the trial the prosecution said that Ulbricht was “Dread Pirate Roberts,” which was the alias for Silk Road’s operator, and said that he received a portion of every transaction that occurred on the black market website.

Read the Full Article: Source – CNBC

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