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Offlinelonghair_Bri
everything is aLIE
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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)

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.


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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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InvisibleInto The Woods
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Registered: 04/20/13
Posts: 10,864
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)

:facepalm:


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Offlinelurkmode
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Registered: 05/20/08
Posts: 1,375
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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)

he could use all that money for condoms for all the ass-rape he's gonna get in the clink


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Invisiblesh4d0ws
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Registered: 02/26/08
Posts: 12,086
Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: lurkmode]
    #19316759 - 12/23/13 03:39 PM (10 years, 1 month ago)

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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Invisiblepwnasaurus
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Registered: 07/16/08
Posts: 12,317
Loc: Canada Flag
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)

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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OfflineImmortal Jellyfish
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Registered: 03/23/13
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Loc: Colorado Flag
Last seen: 3 months, 21 days
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)

"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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OfflineAtrium
Cunt Tickler


Registered: 08/18/13
Posts: 1,284
Last seen: 3 years, 4 months
Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: lurkmode]
    #19317451 - 12/23/13 05:54 PM (10 years, 1 month ago)

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?


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The only reason I study Psychology is to have a legitimate excuse to enjoy Chemistry. :tongue2:


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InvisibleInto The Woods
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Registered: 04/20/13
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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)

They'd seize that cheese


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OfflineProlific Mycognome
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Registered: 09/02/13
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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)

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.
:scaryshroom:


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InvisibleOgla
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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)

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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Offlinegoldenroad08
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Registered: 11/11/12
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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)

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


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Trades


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InvisibleEnlilMDiscord
OTD God-King
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Registered: 08/16/03
Posts: 65,503
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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)

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.


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InvisibleInto The Woods
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Registered: 04/20/13
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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)

I suspect he already has


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InvisibleEnlilMDiscord
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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)

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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Offlinemy3rdeye
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Registered: 08/10/12
Posts: 4,354
Loc: Canada Flag
Last seen: 2 years, 8 months
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)

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.
:scaryshroom:




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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OfflineAtrium
Cunt Tickler


Registered: 08/18/13
Posts: 1,284
Last seen: 3 years, 4 months
Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: my3rdeye]
    #19322802 - 12/24/13 07:39 PM (10 years, 1 month ago)

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. :tongue2:


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InvisibleStonehenge
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Registered: 06/20/04
Posts: 14,850
Loc: S.E.
Re: Feds stole my $33M bitcoins booty: Silk Road ‘pirate’ [Re: Atrium]
    #19336990 - 12/28/13 12:55 PM (10 years, 1 month ago)

>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


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“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)

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Offlinelovelovelove
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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)

Quote:

Into The Woods said:
They'd seize that cheese




^^^ rofl!


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