Australian Government is sitting on 24,500 Bitcoin

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Richard Pollard.” Pollard plead guilty to commercial drug trafficking and was sentenced to 11-years in prison. Coindesk adds, “Pollard’s bitcoins are subject to a restraining order and a 28-day appeal period. Should the funds be forfeited to law enforcement officials as expected, the bitcoins will then be sold at auction by the Victoria Department of Justice.” And, like Ulbricht ... Bitcoin is a digital currency that allows people to buy goods and services and exchange money without involving banks. ... Richard Pollard, 32, was sentenced in the Melbourne County Court in ... In late 2012, Richard Pollard from Warrandyte, Victoria, Australia, was arrested on charges of commercial trafficking in narcotics via Silk Road. He received an eleven-year sentence last October, and now that his conviction is finalized, Australian authorities have had to decide what to do with the roughly $7 million US dollars’ worth of Bitcoins Pollard had been holding at the time of his ... Richard Pollard, 32, was sentenced in the Melbourne County Court in October to 11 years in prison after pleading guilty to drug trafficking on the Silk Road website. Ulbricht, 32, was sentenced in the US District Court in May last year to life in prison after he was convicted of charges accusing him of operating the website for nearly three years from 2011 until his 2013 arrest. In late 2013, the Victoria state government in Australia seized about 24,500 bitcoins from Richard Pollard, a drug dealer from Melbourne. The 32-year-old was sentenced to 11 years behind bars last ...

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