Black Markets

Grand Jury Indicts Alleged Silk Road Owner

He is charged with engaging in a continuing criminal enterprise, computer hacking, money laundering, and operating a narcotics conspiracy

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Federal officials announced a grand jury indictment Tuesday of 29-year-old Ross Ulbricht, the man accused of creating online drug marketplace Silk Road.

Ulbricht, who remains in custody after being arrested back in October, could be behind bars for the rest of his life. He is charged with engaging in a continuing criminal enterprise, computer hacking, money laundering, and operating a narcotics conspiracy.

Silk Road, which was shut down by law enforcement officials last year, had been the go-to black market for anonymous purchases of all sorts of illegal products and services since its 2011 inception. As of September, the site had nearly 13,000 listings for drugs including heroin, cocaine and LSD, prosecutors say.