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Bitcoin Exchanger Sentenced in Manhattan Federal Court to Four Years in Prison for Selling Nearly $1 Million in Bitcoins for Drug Buys on Silk Road

Preet Bharara, the United States Attorney for the Southern District of New York, announced today that Robert M. Faiella, a/k/a “BTCKing,” an underground Bitcoin exchanger, was sentenced today to four years in prison for his role in knowingly transmitting nearly $1 million in Bitcoins intended to facilitate drug trafficking on “Silk Road,” a black-market website designed to enable users to buy and sell illegal drugs anonymously and beyond the reach of law enforcement. Faiella pleaded guilty in September 2014 before U.S. District Judge Jed S. Rakoff, who also imposed today’s sentence.

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