📺 Stream EntrepreneurTV for Free 📺

Accused Silk Road Operator Convicted on U.S. Drug Charges Ross Ulbricht was convicted on all seven counts he faced by a federal jury.

By Reuters •

entrepreneur daily

This story originally appeared on Reuters

The suspected operator of the underground website Silk Road was convicted on Wednesday on narcotics and other criminal charges for his role in orchestrating a scheme that enabled around $200 million of anonymous online drug sales using bitcoins.

Ross Ulbricht, 30, was convicted on all seven counts he faced by a federal jury in Manhattan, following a closely-watched trial that spilled out of U.S. investigations into the use of the digital currency bitcoin for drug trafficking and other crimes.

After less than a day of deliberations, the jury of six men and six women found Ulbricht guilty of charges including drug trafficking, and conspiracies to commit money laundering and computer hacking. Ulbricht faces up to life in prison.

(Reporting by Nate Raymond in New York; Editing by Meredith Mazzilli)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Most Popular

See all
Fundraising

My Startup Couldn't Raise VC Funding, So We Became Profitable. Here's How We Did It — And How You Can Too.

Four months ago, my startup reached profitability for the first time. It came after more than a year of active work and planning, and here's what it took.

By Martins Lasmanis
By Sherin Shibu
Starting a Business

Clinton Sparks Podcast: From Hit Records to Humanitarian Powerhouse, Akon Shares His Entrepreneurial Journey

This podcast is a fun, entertaining and informative show that will teach you how to succeed and achieve your goals with practical advice and actionable steps given through compelling stories and conversations with Clinton and his guests.

By Clinton Sparks
Business News

McDonald's Is Responding to Sky-High Fast Food Prices By Rolling Out a Much Cheaper Value Meal: Report

The news comes as the chain looks to redirect back to customer "affordability."

By Emily Rella
Starting a Business

Clinton Sparks Podcast: CEO of Complex Shares How Media, Culture Have Shifted in Recent Years

This podcast is a fun, entertaining and informative show that will teach you how to succeed and achieve your goals with practical advice and actionable steps given through compelling stories and conversations with Clinton and his guests.

By Clinton Sparks
Business News

Jack Dorsey Explains Bluesky Exit: 'Literally Repeating All the Mistakes We Made' at Twitter

Dorsey left the Bluesky board and deleted his account earlier this week.

By Sherin Shibu