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SAN FRANCISCO—Shaun Bridges, a former Secret Service agent who was investigating the Silk Road drug trafficking website, pled guilty today to charges of money laundering and obstruction of justice.
Bridges' scheme was straightforward and very profitable. After Silk Road admin Curtis Green was arrested in January 2013, he debriefed agents in Baltimore. Bridges took his admin credentials, logged in, and started locking Silk Road drug dealers out of their accounts. He then looted the accounts, grabbing about 20,000 Bitcoins, and put them into his own account.
Bridges moved the Bitcoins into his Mt. Gox account. They were worth more than $300,000 at the time of the theft. Bridges moved the money into a Fideltity account called Quantum International Investments LLC between March and May of that year. By then, the bitcoins were worth about $820,000.
originally posted by: roadgravel
The war on drugs may well be a very lucrative money source for individuals in these professions. Many people will gladly trade some ill gotten funds for their freedom.