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Posted: 12/15/2017 2:30:15 PM EDT
https://arstechnica.com/tech-policy/2017/12/feds-moving-quickly-to-cash-in-on-seized-bitcoin-now-worth-8-4-million/
A federal judge in Utah has agreed to let the US government sell off a seized cache of more than 513 bitcoins (BTC) and 512 Bitcoin Cash (BCH). At current prices, that would yield approximately $8.4 million for the bitcoins and nearly $1 million for the BCH.
In a court filing, prosecutors noted that due to the volatility of the Bitcoin market, both coins risk losing value. Both the BTC and the BCH have already been transferred to government-controlled wallets. The new round of seized digital currency belonged to a Utah man named Aaron Shamo, who prosecutors say led a multimillion-dollar ring of counterfeit pharmaceuticals, including oxycodone and alprazolam that were sold on Dark Web marketplaces. Shamo was arrested over a year ago—his trial has not yet been scheduled. View Quote Guy hasn't even been given a trial and the Feds already want to cash in. |
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Who needs the rule of law, and due process? I wanna cash out that shit!
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Feds: "It's worthless, and probably illegal."
"BUT WE'LL TAKE ALL OF IT THAT WE CAN GET OUR HANDS ON!!" |
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They don't even have to ARREST or CHARGE you to seize assets they believe to be related to the drug trade. View Quote View All Quotes View All Quotes |
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I hope Mr. Shamo beats the charges and sues the everloving piss out of the fedgov.
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Some people simply aren't capable of comprehending liberty and due process.
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Who wants to guess that it has not gone to trial due to defendant motions and not the feds?
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Quoted:
https://arstechnica.com/tech-policy/2017/12/feds-moving-quickly-to-cash-in-on-seized-bitcoin-now-worth-8-4-million/ A federal judge in Utah has agreed to let the US government sell off a seized cache of more than 513 bitcoins (BTC) and 512 Bitcoin Cash (BCH). At current prices, that would yield approximately $8.4 million for the bitcoins and nearly $1 million for the BCH.
In a court filing, prosecutors noted that due to the volatility of the Bitcoin market, both coins risk losing value. Both the BTC and the BCH have already been transferred to government-controlled wallets. The new round of seized digital currency belonged to a Utah man named Aaron Shamo, who prosecutors say led a multimillion-dollar ring of counterfeit pharmaceuticals, including oxycodone and alprazolam that were sold on Dark Web marketplaces. Shamo was arrested over a year ago—his trial has not yet been scheduled. View Quote Guy hasn't even been given a trial and the Feds already want to cash in. View Quote |
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So much for a secure currency .gov can't get it's hooks into...fucking pathetic.
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Quoted: So the guy hasn't been convicted and the Feds are selling off his assets? That's fucked. View Quote View All Quotes View All Quotes Quoted: So the guy hasn't been convicted and the Feds are selling off his assets? That's fucked. Rule 32.2(b)(7) allows that “[a]t any time before the entry of a final order of forfeiture,
the Court, in accordance with Supplemental Rule G(7) of the Federal Rules of Civil Procedure, may order the interlocutory sale of any property alleged to be forfeitable.” Supplemental Rule G(7)(b)6 provides: (b) Interlocutory Sale or Delivery (i) Order to Sell. On motion by a party or a person having custody of the property, the court may order all or party of the property sold if: (A) The property is perishable or at risk of deterioration, decay, or injury by being detained in custody pending the action; (B) The expense of keeping the property is excessive or is disproportionate to its fair market value; (C) The property is subject to a mortgage or to taxes on which the owner is in default; or (D) The court finds other good cause. The vehicles have been seized and are in the custody and control of the United States Marshals Service. Every month, the USMS is accruing $465/month in storage fees for these vehicles. The total expenses for these two vehicles currently is $5,010.70. The BTC and BCH have been transferred to a Government wallet. Due to the volatile market for cryptocurrencies, the BTC and BCH risk losing value during the pendency of the forfeiture proceedings. |
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He should have kept cash and buried that shit in undisclosed locations.
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He should have kept cash and buried that shit in undisclosed locations.
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Should have just left it encrypted on his iphone, and not used fingerprint reader.
A better headline would be "Feds crying again about encryption." Instead of "Feds steal man's bitcoins." |
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It would be interesting if he is found not guilty, and can find a judge to order the return of his bitcoins, and bitcoin cash, with interest. No doubt the government would fight that order tooth and nail.
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The government is all about taking money from the subjects. Where do I find the dark web ?
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Quoted: Did he kidnap people and inject them with crack needles for kicks, or was he handing over a product with well known side effects to paying customers? View Quote The number of people defending a drug dealer is concerning. |
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Wasn't there a huge seizure from Silk Road or the guy associated with it?
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Quoted:
So the guy hasn't been convicted and the Feds are selling off his assets? That's fucked. View Quote View All Quotes View All Quotes |
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There should be a constitutional amendment against asset forfeiture.
And why the fuck has the guy’s trial not been scheduled after a fucking year? Either he’s guilty or not; plead him out, convict him, or cut him loose. That part is ALREADY in the fucking Constitution. |
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What the fuck? What if he winds up innocent? View Quote View All Quotes View All Quotes Quoted:
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F.GOV Laughsinatf.gif |
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This is just another symptom of the entropy our country is being subjected to.
Law enforcement, like politicians, have lost their fear of the people that empower them. |
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Due process should still be a thing. Until he is found guilty, the feds should leave his shit alone. View Quote View All Quotes View All Quotes |
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I bet Sessions is more worried about this guy than going after anyone important *cough* corruption with in the "Russian meddling" investigation *cough*
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Quoted:
There should be a constitutional amendment against asset forfeiture. And why the fuck has the guy’s trial not been scheduled after a fucking year? Either he’s guilty or not; plead him out, convict him, or cut him loose. That part is ALREADY in the fucking Constitution. View Quote |
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