Former Secret Service agent admits $820K Silk Road theft

The agent, Shaun W. Bridges, investigated the Silk Road online marketplace

A former Secret Service agent admitted Monday to stealing US$820,000 worth of bitcoins from Silk Road vendors during the investigation of the online contraband market.

Shaun W. Bridges, 32, of Laurel, Maryland, pleaded guilty in the U.S. District Court for the Northern District of California to money laundering and obstruction of justice. He is scheduled for sentencing on Dec. 7, according to prosecutors.

Bridges was one of two federal investigators charged with crimes committed during the probe of the Silk Road, which was shut down in October 2013.

The revelation of corrupt federal agents added a surprising twist to the Silk Road story and forms part of the basis for the appeal of Ross Ulbricht, who was accused of being the site's operator.

Ulbricht was sentenced to two concurrent life sentences and 40 years.

Bridges, a six-year special agent in the Baltimore Field Office, admitting using a Silk Road administrator account to move 20,000 bitcoins into his own account around January 2013.

The bitcoins later increased in value that year, and Bridges cashed out, moving $820,000 into his own personal investment accounts in the U.S., prosecutors alleged.

The other corrupt investigator, former DEA agent Carl Mark Force IV, pleaded guilty in July to money laundering, obstruction of justice and extortion under color of official right.

Force, 46, of Baltimore, allegedly froze an account of a Silk Road user and transferred the $297,000 into his own personal account. He could face up to 20 years in prison on each of the charges when he is sentenced on Oct. 19.

Join the PC World newsletter!

Error: Please check your email address.

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Jeremy Kirk

IDG News Service
Show Comments

Essentials

Microsoft L5V-00027 Sculpt Ergonomic Keyboard Desktop

Learn more >

Lexar® JumpDrive® S57 USB 3.0 flash drive

Learn more >

Mobile

Lexar® JumpDrive® S45 USB 3.0 flash drive 

Learn more >

Exec

Lexar® Professional 1800x microSDHC™/microSDXC™ UHS-II cards 

Learn more >

Audio-Technica ATH-ANC70 Noise Cancelling Headphones

Learn more >

HD Pan/Tilt Wi-Fi Camera with Night Vision NC450

Learn more >

Lexar® JumpDrive® C20c USB Type-C flash drive 

Learn more >

Budget

Back To Business Guide

Click for more ›

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?