Partner Jeff Alberts Speaks to New York Post About Money Laundering Case
Jeffrey Alberts, partner and head of Pryor Cashman’s White Collar Defense and Investigations Practice, spoke to the New York Post regarding the Silk Road website and its owner, Ross Ulbricht.
Silk Road, an illegal drug peddling website, used a virtual currency called bitcoins to facilitate money laundering. Ulbricht claims the government seized over 173,000 bitcoins, valued at $33.6 million, which he has an interest in as the owner. Mr. Ulbricht is now trying to force the government to return the bitcoins, claiming they are "not subject to seizure" by federal law.
According to Jeffrey Alberts, Ulbricht will have a difficult time proving his argument. In money laundering cases like this, anything of value can be seized, “artwork, horses and even intellectual property, such as domain names, have qualified, so there there’s no reason to think bitcoins wouldn’t.”
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