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longhair_Bri
everything is aLIE


Registered: 12/09/06
Posts: 118
Loc: Michigan
Last seen: 2 years, 9 months
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Feds stole my $33M bitcoins booty: Silk Road ‘pirate’
#19316676 - 12/23/13 03:18 PM (10 years, 1 month ago) |
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link to article
The Internet “pirate” accused of running the notorious illegal-drug-peddling Web site Silk Road claims that the feds are the real buccaneers — robbing him to the tune of $33.6 million worth of the encrypted, virtual currency bitcoin.
Ross Ulbricht — who was arrested in October for allegedly masterminding the mysterious “deep Web” site — recently filed legal papers in Manhattan federal court admitting he “has an interest as owner” of the more than 173,000 bitcoins the government seized through forfeiture from Silk Road.
Valued at $33.6 million, these bitcoins are assets the government claims were used to facilitate money laundering in support of a host of crimes, including six failed murder-for-hire plots and the sale of cocaine, heroin and other illicit drugs over the Internet.
Ulbricht — who allegedly used the workplace alias “Dread Pirate Roberts,” a reference to a character in the 1987 cult film “The Princess Bride” — said in a notarized Dec. 11 statement that he believes the virtual currency should be returned to him because bitcoins are “not subject to seizure” by federal law.
Ulbricht, 29, now admits the bitcoin fortune is his — even though he’s previously denied any wrongdoing regarding Silk Road and claimed through his lawyer that the feds arrested the wrong guy.
Ulbricht’s attempt at forcing the government to return the bitcoins marks the first time the courts have been asked to determine whether the controversial virtual currency is an asset that falls under forfeiture laws, legal experts told The Post.
Daniel Wenner, a white-collar lawyer and former Brooklyn assistant US attorney, called Ulbricht’s argument “very creative and cutting edge,” but said he’d be “stunned” if a judge sided with the alleged Silk Road operator.
“I think one would be hard-pressed to convince a court that something you can use to purchase goods, like bitcoins, isn’t property,” he said.
Attorney Jeffrey Alberts, who used to specialize in asset-forfeiture actions as a federal prosecutor for Manhattan US Attorney Preet Bharara, agreed. He said Ulbricht should have “a difficult time” proving his argument because typically “anything of value” can be seized in money-laundering cases.
“Artwork, horses and even intellectual property, such as domain names, have qualified, so there’s no reason to think bitcoins wouldn’t,” he said.
Both Bharara, whose office is handling the Silk Road case, and Ulbricht’s lawyer, Joshua Dratel, declined comment.
Bharara’s asset seizure from Silk Road was the largest-ever by the feds that involved bitcoins.
-------------------- It's not enough....I need more....Nothing seems to satisfy....I don't want it....I just need it....to breathe....to feel....to know I'm alive
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Into The Woods
Quarantine King


Registered: 04/20/13
Posts: 10,864
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: longhair_Bri] 2
#19316738 - 12/23/13 03:33 PM (10 years, 1 month ago) |
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lurkmode
Stranger


Registered: 05/20/08
Posts: 1,375
Last seen: 4 years, 3 months
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: Into The Woods]
#19316745 - 12/23/13 03:36 PM (10 years, 1 month ago) |
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he could use all that money for condoms for all the ass-rape he's gonna get in the clink
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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: lurkmode]
#19316759 - 12/23/13 03:39 PM (10 years, 1 month ago) |
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What about the whole "I'm not guilty thing"
Did he plead out, already knows he's only facing 5-10 years for snitching out the other admins, and now wants his money back for when he gets out?
Like wtf is this guy thinking
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pwnasaurus
Stranger



Registered: 07/16/08
Posts: 12,317
Loc: Canada
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: sh4d0ws] 1
#19316801 - 12/23/13 03:50 PM (10 years, 1 month ago) |
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Quote:
sh4d0ws said: What about the whole "I'm not guilty thing"
Did he plead out, already knows he's only facing 5-10 years for snitching out the other admins, and now wants his money back for when he gets out?
Like wtf is this guy thinking
Probably thinking that he has some of the best legal counsel in the world and is following their advice.
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Immortal Jellyfish



Registered: 03/23/13
Posts: 192
Loc: Colorado
Last seen: 3 months, 21 days
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: pwnasaurus] 2
#19317445 - 12/23/13 05:52 PM (10 years, 1 month ago) |
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"Ulbricht — who allegedly used the workplace alias “Dread Pirate Roberts,” a reference to a character in the 1987 cult film “The Princess Bride” — said in a notarized Dec. 11 statement that he believes the virtual currency should be returned to him because bitcoins are “not subject to seizure” by federal law."
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Atrium
Cunt Tickler


Registered: 08/18/13
Posts: 1,284
Last seen: 3 years, 4 months
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: lurkmode]
#19317451 - 12/23/13 05:54 PM (10 years, 1 month ago) |
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Quote:
lurkmode said: he could use all that money for condoms for all the ass-rape he's gonna get in the clink
Doubt any ass rape is headed his way. If anything, he'll be watched after by other drug convicts.
But hey, anybody else notice it says that something used to buy goods isn't property? Does that mean cash is not property as well? Hell, you could trade for something. Does that mean whatever is traded, say water for cheese, neither would be property?
-------------------- The only thing about Chemistry I like is all the psychedelics that come from it. The only reason I study Psychology is to have a legitimate excuse to enjoy Chemistry.
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Into The Woods
Quarantine King


Registered: 04/20/13
Posts: 10,864
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: Atrium] 1
#19317481 - 12/23/13 06:00 PM (10 years, 1 month ago) |
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They'd seize that cheese
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Prolific Mycognome
Extra-Dimensional Being



Registered: 09/02/13
Posts: 113
Last seen: 7 months, 4 days
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: Into The Woods]
#19319085 - 12/23/13 11:32 PM (10 years, 1 month ago) |
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I was about to say the same thing James, that guy is a renowned hero to criminal empires around the world. No one's gonna touch him in there... and if they do, it'll be because HE applied the lube.
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Ogla



Registered: 02/16/04
Posts: 11,314
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: Prolific Mycognome]
#19321447 - 12/24/13 02:22 PM (10 years, 1 month ago) |
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How does he expect to beat the charges and try to recover his bitcoins at the same time. Don't the two contradict itself? Gosh, DPR doesn't seem like too smart of a guy does he? I could be wrong thou
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goldenroad08
OwsleyWannabee


Registered: 11/11/12
Posts: 314
Last seen: 9 years, 5 months
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: Ogla]
#19321732 - 12/24/13 03:17 PM (10 years, 1 month ago) |
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hes not beating the charges, hes cooperating to see daylight again one day. cant blame a guy fo trying to get his coins back.
he wont get them back tho, the dea has already seized coins before so there is precedent for seizure.
the admins ross rolled on will probably roll too
shame tho, the silk road was a fucking cool idea
-------------------- Trades
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Enlil
OTD God-King




Registered: 08/16/03
Posts: 65,503
Loc: Uncanny Valley
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: Atrium]
#19321809 - 12/24/13 03:32 PM (10 years, 1 month ago) |
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Quote:
Jamesdnh said: But hey, anybody else notice it says that something used to buy goods isn't property?
It doesn't say that. You misread it.
Ulbricht is gonna rat out as many as he can to save his own ass.
-------------------- Censoring opposing views since 2014. Ask an Attorney Fuck the Amish
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Into The Woods
Quarantine King


Registered: 04/20/13
Posts: 10,864
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: Enlil]
#19321974 - 12/24/13 04:09 PM (10 years, 1 month ago) |
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I suspect he already has
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Enlil
OTD God-King




Registered: 08/16/03
Posts: 65,503
Loc: Uncanny Valley
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: Into The Woods]
#19321984 - 12/24/13 04:12 PM (10 years, 1 month ago) |
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I hope he gets shanked for ratting out his partners. I also hope they sell those bitcoins while they're worth something.
-------------------- Censoring opposing views since 2014. Ask an Attorney Fuck the Amish
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my3rdeye



Registered: 08/10/12
Posts: 4,354
Loc: Canada
Last seen: 2 years, 8 months
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: Prolific Mycognome]
#19322193 - 12/24/13 04:55 PM (10 years, 1 month ago) |
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Quote:
Prolific Mycognome said: I was about to say the same thing James, that guy is a renowned hero to criminal empires around the world. No one's gonna touch him in there... and if they do, it'll be because HE applied the lube.

I don't think you guys understand how it works. The overwhelming majority of people being ass raped in prison right now in the USA are white drug offenders. Is he a white drug offender? When members of the hells angles and the Italian mafia pay the Aryan brotherhood to protect their white asses from rape in prison I would say this guy, who isn't in a big tough gang should be very scared. People much tougher than him are scared. You internet nerds might look up to DPR, I doubt gang members do. He must be co operating otherwise he would not be claiming the money is his. That would an insane thing to admit to before a criminal trial, that all that cash is yours.
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Atrium
Cunt Tickler


Registered: 08/18/13
Posts: 1,284
Last seen: 3 years, 4 months
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: my3rdeye]
#19322802 - 12/24/13 07:39 PM (10 years, 1 month ago) |
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Upon re reading, yes I am mistaken. I thought the goal was the case to assume thatbitcoins are not property like horses and artwork. Not the other way around.
-------------------- The only thing about Chemistry I like is all the psychedelics that come from it. The only reason I study Psychology is to have a legitimate excuse to enjoy Chemistry.
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: Atrium]
#19336990 - 12/28/13 12:55 PM (10 years, 1 month ago) |
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>173,000 bitcoins the government seized through forfeiture from Silk Road. Valued at $33.6 million
They are worth a lot more than that. At $700 each that come to over $100M
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
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lovelovelove
Stranger

Registered: 12/18/13
Posts: 25
Last seen: 3 years, 5 months
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Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: Into The Woods]
#19357099 - 01/02/14 02:22 AM (10 years, 29 days ago) |
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Quote:
Into The Woods said: They'd seize that cheese
^^^ rofl!
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