Shaun Bridges, the dirty Secret Service agent who had already landed a six-year prison sentence for the theft of $800,000 worth of bitcoins during the Silk Road investigation, just received another two-years for another bitcoin heist.
In March 2015, authorities arrested Shaun Bridges and Drug Enforcement Administration agent Carl Force. Both men had been part of the team behind the investigation and seizure of the Silk Road marketplace. Both men had stolen substantial amounts of bitcoin from the Silk Road and diverted the money into their bitcoin wallets. Bridges later pleaded guilty to both money laundering and obstruction of justice. Force, in turn, pleaded guilty to money laundering, extortion, and obstruction of justice.
The Department of Justice settled upon a 71-month sentence for Bridges and an 87-month sentence for Force. Bridges also agreed to forfeit $500,000 to the U.S. government. “I’ve lost a lot,” Bridges allegedly told the court. “I’ve accepted responsibility…I just [want] to apologize to everybody.”
However, Bridges had not ended his desperate attempt to keep bitcoin from the government (or from the original owners). Before serving any prison time, the corrupt agent managed to divert “government-owned” bitcoin to wallets under his control. The former Secret Service agent had stolen the current equivalent of $11.3 million in bitcoin.
The incident came out of nowhere. News about the agent had dulled to a whisper. Then, on January 28, federal agents raided the 35-year-old disgraced agent’s house one day before he was scheduled to surrender himself to the prison system for intake.
The authorities claimed Bridges had posed a serious flight risk and reported finding items such as passports and packed travel bags during the raid. U.S. District Judge Richard Seeborg had already banned Bridges from leaving the country or changing his name; the court had given the man temporary freedom but acknowledged the significant flight risk he posed.
Later documents revealed that Bridges had used his former Secret Service position to access the private key associated with a government bitcoin wallet. The wallet had contained (at least) 1,600 bitcoins linked to a 2014 bitcoin exchange investigation. He transferred the bitcoins to multiple wallets under his control.
Bridges admitted to the bitcoin theft and signed a plea agreement that imposed a sentence of 24-months in prison for one count of money laundering. “Bridges was also ordered to forfeit approximately 1,500 bitcoin and other fiat currency, which is currently valued at approximately $10.4 million,” the Department of Justice press release added.
A former U.S. Secret Service agent has been sentenced to an additional prison term on charges associated with his theft of bitcoin seized from now-defunct dark market Silk Road. Shaun W. Bridges, who pleaded guilty to stealing hundreds of thousands of dollars in bitcoin during the U.S. government's investigation of Silk Road, was found guilty of money laundering and sentenced to a 24-month prison term yesterday by U.S. district judge Richard Seeborg in San Francisco.
Judge Seeborg ordered the sentence to be served consecutively with jail time Bridges is currently serving for the theft of the bitcoin.
He further ordered Bridges to pay a penalty of 1,500 bitcoins and other fiat currency that roughly totals $10.4 million in value, according to a press release.
Bridges had earlier pleaded guilty to the charges, following admitting using a private key to access a digital wallet belonging to the U.S. government and transferring 1,600 BTC to wallets he controlled.
Bridges was originally arrested in 2015 for the bitcoin theft, and was later arrested in February 2016 as he tried to leave the U.S. before beginning his prison term.
Later, court filings stated that Bridges stole additional Silk Road funds after having pleaded guilty to the first charges.
FBI undercover agent, Shaun Bridges, and DEA undercover agent, Carl Force, who had been part of the Silk Road investigation, had been arrested for corruption and theft, among other things. Bridges pleaded guilty to stealing over $800,000 worth of bitcoin, while Force admitted stealing more than $700,000 in bitcoin, as well as extortion, money laundering and obstruction of justice. Shaun Bridges, who is already serving a six-year sentence for nicking Bitcoins from the underground souk, pleaded guilty on Tuesday to stealing a further 1,600 Bitcoin (worth $359,005 at the time and approximately $6.6m today) during a separate investigation. Newly unsealed court documents in the case against disgraced former Secret Service agent and Silk Road bitcoin thief Shaun Bridges allege that further bitcoin was stolen after Bridge's was initially DEA special agent Carl Force and Secret Service special agent Shaun Bridges were both working undercover to convict and capture Dread Pirate Roberts (DPR), later revealed to be Ross Ulbricht. He was a big, easy target, but proved to be elusive until his demise. His 200 million dollar Bitcoin proved to be an enticing target. DPR made this through transaction fees by operating and maintaining ... Former Secret Service agent Shaun Bridges has pled guilty to laundering more than $800,000 in bitcoin during the investigation of online black market Silk Road.
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A Secret Service agent sentenced to nearly six years in prison for stealing bitcoins during a probe into the online drug marketplace Silk Road got two more years added to his sentence. According ... Former Secret Service agent Shaun Bridges confessed that as part of the team investigating the Silk Road anonymous drug market he had secretly stolen around $800,000 worth of bitcoins from the ... "Top 10 Bitcoin Villains" is presented by Bitcoin.com 1 Mark Karpeles 2 Trendon Shavers 3 Alex Green aka Ryan Kennedy) 4 Steve Chen (gemcoin) 5 Danny Brewster 6 Josh Garza 7 Carl Force & Shaun Bridges The maximum number of Bitcoins will be about 21 million. A bitcoin is a unit of measurement, but the “unit” depends on solely on how people value it in transactions. No physical existence. Former Secret Service agent Shaun Bridges confessed that as part of the team investigating the Silk Road anonymous drug market he had secretly stolen around $800,000 worth of bitcoins from the ...