Charlie Shrem Co-accused Sentenced to 4 Years in Prison

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Robert M. Faiella, the bitcoin trader charged alongside BitInstant CEO Charlie Shrem, has been sentenced to four years' imprisonment in New York.

Faiella, otherwise known as 'BTCKing', pleaded guilty to operating an illegal money transmission business after he exchanged fiat currency for bitcoins that were then used to buy drugs on the Silk Road marketplace.

According to a Bloomberg report, Faiella said:

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