Daily Archives: December 22, 2014

UCF (9-3) vs. NC State (7-5) Dec. 26, 8 p.m. ET (ESPN)

BOWL SCHEDULE: Matchups, dates for every 2014-15 game

Reason to watch: George OLeary has guided UCF to 31 wins over the past three seasons. The Knights lost quarterback Blake Bortles to the NFL last spring, but still managed to post nine regular-season victories behind a strong defense. UCF was also involved in one of the most dramatic finishes of the season, a 51-yard, game-winning Hail Mary from quarterback Justin Holman to receiver Breshad Perriman against East Carolina that clinched a share of the American Athletic Conference title for the Knights.

Meanwhile, NC State improved by four wins over last season thanks to strong quarterback play from Jacoby Brissett and solid production from tailback Shadrach Thornton. The Wolfpack opened the year 4-0 and led Florida State by 17 points in a Sept. 27 meeting in Raleigh, N.C., but the Seminoles came roaring back to win by 15. Though the loss prompted a four-game losing streak for Dave Doerens squad, the Wolfpack rallied to win three of their final four games.

Keep an eye on: Brissett. He sat out last season after transferring from Florida, but played well in his first season for the Wolfpack. Over 12 games the 6-foot-4, 231-pound redshirt junior threw for 22 touchdowns with only five interceptions while adding 498 yards and three scores on the ground. Brissett will need to be sharp against a UCF team that led the American in pass efficiency defense and was also stingy against the run, allowing a league-best 3.08 yards per carry.

Did you know: UCF has lost just one game in conference play over the last two seasons. The Knights have dominated American competition and may have been in the running for the Group of Fives big-money bowl bid if not for OLearys decision to start freshman quarterback Pete DiNovo instead of Holman in the season opener against Penn State and a baffling 37-29 loss at UConn on Nov. 1. Even though UCF took a step back after a 12-win effort in 2013, its reasonable to expect a strong showing: The Knights have won their last three bowl games.

Final analysis: Doeren has NC State trending in the right direction, and a bowl win would provide added momentum heading into next year. Brissett and Thornton should help the Wolfpack move the ball against UCF, but the Knights rank ninth nationally in scoring defense. While UCF isnt as formidable offensively as it was with Bortles last season, Holman and Perriman comprise a potent duo that can do damage against an NC State team that finished ninth in the ACC in pass efficiency defense. The Wolfpacks quality finish to the fall -- which included a 35-7 throttling of in-state rival North Carolina on Nov. 29 -- is encouraging. However, UCF also closed with a flourish, winning its last four games.

The pick: UCF 23, NC State 20

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UCF vs. NC State: Bitcoin Bowl Preview

Charlie Shrem was the CEO and CCO of BitInstant. Photograph: Ted Soqui/Ted Soqui/Corbis

The bitcoin entrepreneur Charlie Shrem has been sentenced to two years in jail for his part in a money laundering scheme, after a bitcoin exchange he ran was found to be aiding users of the Silk Road black market.

Shrem was previously a senior figure in the bitcoin community, sitting on the board of the foundation which oversees the cryptocurrency, while also running his own exchange, BitInstant. He resigned as a board member after his arrest in January.

Ive been sentenced to two years, to self-surrender in 90 days, Shrem tweeted. Considering I was facing 30 years, justice has been served.

In September, he pled guilty to the charges of money laundering, and asked forgiveness from the trial judge. I screwed up, he said. The bitcoin community, theyre scared and there is no money laundering going on any more. Theyre terrified. Bitcoin is my baby, its my whole world and my whole life, its what I was put on this Earth to do. I need to be out there. If your honor grants me that, I can be out there in the world, making sure that people dont do the same stupid things that I did.

Shrem was accused of running a scheme with Floridian Robert Faiella to sell bitcoins anonymously to users of the Silk Road website.

According to prosecution documents, Faiella ran a business on the Silk Road website under the name BTCKing, where he let users exchange cash for bitcoin anonymously in exchange for a cut. Faiella fulfilled those orders using BitInstant, where Shrem was chief executive and chief compliance officer.

Under US federal rules, BitInstant was a money transmitter, and required to report substantial transactions, or patterns of transactions, which indicated suspicious activity. Shrem never filed any such reports, and the prosecution claimed that he knowingly partnered with Faiella to ensure that the latter would continue to have access to the exchange.

Theres no question that Mr Shrem, over a period of many months, was knowingly, wilfully, to some extent excitedly and even passionately involved in activities he knew were, in part, involved in serious violations of the law, the judge said, according to Bloomberg.

In January, the man accused of running the Silk Road website, Ross Ulbricht, is due to stand trial. According to prosecutors, Ulbricht operated the site under the pseudonym Dread Pirate Roberts. He is accused of facilitating the trade of illegal drugs, as well as allegedly ordering the assassination of a business associate.

Originally posted here:
Bitcoin entrepreneur sentenced to two years in jail over money laundering