“Robert Faiella, 55, and an accomplice were charged with conspiracy to commit money laundering and running an unlicensed money transmitting business. Faiella, who pleaded guilty in September 2014, was also ordered to pay $950,000. He and accomplice Charlie Shrem, 25, were accused of running a company allowing people to use cash to buy bitcoins, and issuing $1 million in the virtual currency that is based on a mysterious computer algorithm. Shrem was convicted to two years in prison on December 19.”
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