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Roger Ver

Roger Ver21 posts

Roger Ver is an entrepreneur and Bitcoin investor and evangelist, born in San Jose, California. After becoming interested in libertarianism at an early age, he stood unsuccessfully as a California libertarian candidate. After college, he started a successful business, memorydealers.com, to sell used computer parts online. After he served 10 months in jail for selling firecrackers online, he moved to Japan. He became interested in Bitcoin when the price was very low and became very wealthy as the price and interest in the virtual currency rose. His investments and evangelism have given him the name “Bitcoin Jesus”. He gave up his US citizenship in 2014 and is now a citizen of St. Kitts.

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2000

Arrest: 10 months in federal prison

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Ver is prosecuted for selling a product on Ebay called “Pest Control Report 2000”, a firecracker used by farmers to scare deer and birds off their fields. Ver says he was the only merchant prosecuted, and that even the manufacturer was simply asked to stop selling the item.

The reasoning for the prosecution became crystal clear after a meeting with the US prosecuting attorney and the under cover ATF agents from the debate. In the meeting, my attorney told the prosecutor that selling store bought firecrackers on Ebay isn’t a big deal and that we can pay a fine and do some community service to be done with everything. When the prosecutor agreed that that sounded reasonable one of the ATF agents pounded his hand on the table and shouted “…but you didn’t hear the things that he said!” This summed up very clearly that they were angry about the things that I had said, not the things that I had done.

To avoid a seven or eight year sentence Ver signs a plea agreement and is sent to Lompoc Federal Penitentiary for ten months, followed by three years probation.

27 Jan, 2014

BitInstant CEO arrested for money laundering

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Shrem is arrested at JFK airport and charged with money laundering. Shrem, along with a co-conspirator, is accused of selling over $1 million in bitcoins to Silk Road users, who would then use them to buy drugs and other illicit items.According to the criminal complaint, Shrem allegedly also bought drugs on Silk Road. Manhattan U.S. Attorney Preet Bharara:

As alleged, Robert Faiella and Charlie Shrem schemed to sell over $1 million in Bitcoins to criminals bent on trafficking narcotics on the dark web drug site, Silk Road. Truly innovative business models don’t need to resort to old-fashioned law-breaking, and when Bitcoins, like any traditional currency, are laundered and used to fuel criminal activity, law enforcement has no choice but to act. We will aggressively pursue those who would coopt new forms of currency for illicit purposes.”

The Winklevoss twins response:

When we invested in BitInstant in the fall of 2012, its management made a commitment to us that they would abide by all applicable laws – including money laundering laws – and we expected nothing less. Although BitInstant is not named in today’s indictment of Charlie Shrem, we are obviously deeply concerned about his arrest. We were passive investors in BitInstant and will do everything we can to help law enforcement officials. We fully support any and all governmental efforts to ensure that money laundering requirements are enforced, and look forward to clearer regulation being implemented on the purchase and sale of bitcoins.

Ver:

People own their own bodies, and have the absolute right to put anything they want into it. People like the FBI, and DEA agents who want to lock people in cages for buying, selling, or using drugs are the ones committing evil,  and they need to stop. I look forward to the day when they see the error of their ways,  and stop committing evil acts in the name of ‘law enforcement’.

The money laundering charge carries a maximum sentence of 20 years in prison. BitInstant is now offline.