The suspected mastermind behind the underground Web site Silk Road was convicted on narcotics and other charges on Wednesday for his role in orchestrating a scheme that enabled about US$200 million of anonymous online drug sales using bitcoins.
Ross Ulbricht, 30, was found guilty by a Manhattan federal court jury on all seven counts he faced after a closely watched four-week trial spilling out of US investigations of the use of the bitcoin digital currency for drug trafficking and other crimes.
The jury of six men and six women needed a little more than three hours to deliberate before finding Ulbricht guilty of charges that included conspiracies to commit money laundering, computer hacking and drug trafficking.
Photo: Reuters
Ulbricht, who prosecutors say went by the alias Dread Pirate Roberts in a reference to the 1987 movie The Princess Bride, faces up to life in prison and a mandatory minimum term of 20 years. His sentencing was scheduled for May 15.
Ulbricht has attracted many supporters to his cause, including some who say the government’s case is an attack on Internet freedom.
After the verdict was read, Ulbricht turned toward his supporters and raised his hand as he was led from the court.
Ulbricht’s lawyer, Joshua Dratel, said he would appeal. He said he was too limited in presenting evidence, adding that Ulbricht had been convicted based on statements not attributed by name to his client.
Manhattan US Attorney Preet Bharara said Ulbricht’s conviction should send a message to anyone attempting to operate an online criminal enterprise.
“The supposed anonymity of the dark Web is not a protective shield from arrest and prosecution,” he said.
Silk Road operated from at least January 2011 until October 2013, when authorities seized the Web site and arrested Ulbricht at a public library in San Francisco.
By the time it was shut down, Silk Road had generated nearly US$213.9 million in sales and US$13.2 million in commissions, prosecutors said.
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