Ross Ulbricht's 144,336 Bitcoins – Featured Bitcoin News


Ross Ulbricht's 144,336 Bitcoins

Ross Ulbricht attorney, Paul Grant, refers to stipulation of federal government seizure as a “sad day for justice” and a “boon for the federal government’s on-going war against privacy and civil rights.”

Also read: Dear Ross Ulbricht

48 Million USD Released to Federal

Law Enforcement

From Colorado, Paul Grant, criminal and civil defense attorney for Ross Ulbricht, sighed when reached by phone Monday afternoon, “It’s over. This part of Ross’ struggle, his fight, is over.”

Mr. Grant is referring to a United States District Court Southern District, New York, online publication of the civil asset and forfeiture stipulation and order agreed to by Mr. Ulbricht.

On it is Ross Ulbricht’s signature just below that of Assistant United States Attorney Christine Magno’s (Ms. Magno declined comment by phone, referring Bitcoin News to the division’s formal press office), and both rest below the heading “AGREED AND CONSENTED TO,” effectively ceding nearly 50 million USD to the federal government.

Ross Ulbricht's 144,336 Bitcoins
Joon H. Kim (AP Photo/Bebeto Matthews)

Questions to Acting United States Attorney Joon H. Kim’s press representative, Nicholas Biase, were unanswered as of publication time.

Mr. Kim’s press release, touting its windfall, clumsily recounted widely disseminated basics of the case while managing to spell Mr. Ulbricht’s last name incorrectly just prior to listing “statements made during other public proceedings, and other court documents.”

Curiously, there was no mention of the two undercover federal agents serving time for their crimes committed during the Ulbricht case.

“And there is no reason to believe that all of their illegally obtained assets have been recovered,” Mr. Grant incredulously laughed. “There is also no reason to think that all of the government corruption in this case has been revealed or that it will ever be known.”

No Goodwill Earned

Readers wondering why Mr. Ulbricht would cooperate in such a manner, especially considering the extremity of his sentence, his attorney stresses how “Ross needed to get this behind him. He has so many other battles at the moment, not least of which is appealing to lessen his time.”

“Ross agreeing to settle this case makes it go away,” Mr. Grant emphasized. “He has too many other battles to fight at this point, battles to find some way to recover his liberty.”

When asked if Mr. Ulbricht’s concession might gain him preferable consideration in higher courts, Mr. Grant answered, “Absolutely not. Not even in the slightest. What this does is free up resources and energy for the larger picture.”

“Ross’ family,” Mr. Grant continued, “is seeking all possible avenues” to get Mr. Ulbricht out from under a life term. He urged readers interested in supporting Ross Ulbricht’s appeal efforts to patronize a website run by the Ulbricht family, FREE ROSS.

Not Giving Up

“It’s a sad day. Sad day for justice anytime the federal government takes away private property under the color of law,” Mr. Grant said.

“Ross agreeing to settle this case makes it go away,” Mr. Grant emphasized. “He has too many other battles to fight at this point, battles to find some way to recover his liberty.”

From the initial prosecution to the sentencing and to now the civil order, every aspect of Ross Ulbricht’s case seems exaggerated, unusually large.

Ross Ulbricht's 144,336 Bitcoins
Lyn Ulbricht, Ross Ulbricht’s mother

Asked where all that money would eventually end up, Mr. Grant explained it “will be used by various law enforcement agencies to further efforts to surveil citizens, enforce the drug laws, and provide agencies with the latest in technology.”

The Supreme Court appeal will be handled by another firm, as yet named.

“No one is giving up. Ross is not giving up. The Ulbricht family is not giving up,” Mr. Grant emphatically declared by phone.

What do you think? Do you think Ross Ulbricht should have refused to give up his bitcoin without a legal fight? What are your thoughts on an eventual appeal? Let us know in the comments below. 

Images courtesy of AP/Bebeto Matthews, Lyn Ulbricht, and Wikipedia

Tags in this story
Bitcoin, Civil Asset Forfeiture, dread pirate roberts, Free Ross, N-Featured, Paul Grant, Ross Ulbricht, The Silk Road

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Edward Craig

Edward Craig is a long-time fintech journalist, passionately covering the cryptocurrency space since 2014. Contact: (Nine Two Nine) 367-1848.

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