Renowned Silk Road programmer named ‘Michael R. Weigand’ pleaded guilty recently on Monday to cover his involvement within the once-sprawling dark web market’s backend operations.
The prosecutors alleged that Weigand, 56, worked to prop up Silk Road’s vulnerabilities within its heyday & offered technical advice to site leadership. He also removed evidence from a London flat earlier in 2013, prosecutors claimed.
But with the infamous marketplace for illegal drugs & illicit services now nearly 7 years’ defunct, prosecutors within the hard-charging Southern District of New York chose to hit Weigand for the cover-up, rather than the crime.
Weigand admitted that he lied to IRS & FBI special agents earlier in January last year about his role on Silk Road, his pseudonym, his use of Bitcoin [BTC] on the location, and his interactions with convicted Silk Road operator Ross Ulbricht’s online identity, Dread Pirate Roberts.
The lawsuit comes with a maximum statutory 5-year sentence. Sentencing is scheduled for a hearing in mid December. Regardless of the outcome of the case, it’ll fall well in need of Ulbricht’s life sentence.
The charges may serve for instance how bitcoin’s enduring public ledger makes hiding one’s transaction history from enforcement officials nearly impossible, even if they start their search years after the transactions in question take place.