September 4, 2014 / 9:08 PM / 3 years ago

Bitcoin promoter pleads guilty to unlicensed money transmitting

NEW YORK, Sept 4 (Reuters) - Bitcoin promoter Charlie Shrem pleaded guilty on Thursday to operating an unlicensed money transmitting business, resolving U.S. charges that he helped to sell more than $1 million of the digital currency to users of the illicit online drug marketplace Silk Road.

Shrem and his accused co-conspirator, Robert Faiella, pleaded guilty at a hearing in New York federal court as part of a deal struck with prosecutors from the office of Manhattan U.S. Attorney Preet Bharara.

Reporting by Joseph Ax; Editing by Diane Craft

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