Bitcoin Exchange Operator Tied to Silk Road Gets 4 Years
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The operator of a Bitcoin exchange tied to the illicit online drug bazaar “Silk Road” was sentenced to four years in prison after pleading guilty to running an illegal money business.
Robert Faiella, a former plumber living in Florida, told U.S. District Judge Jed Rakoff today that he exchanged the digital currency under the name “BTCKing” for use in online drug deals to support his family after he became disabled by back troubles. He faced a maximum of five years.