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IPFS News Link • Drugs and Medications

Family and Friends Pledge $1M in Bail for Alleged Silk Road Owner

•, By Kim Zetter
 Ulbricht’s parents have pledged $700,000 in equity from their home in Texas, his sister in Australia has pledged nearly $40,000 in savings, while his stepbrother has offered $100,000 from his investment account.

More than a dozen other family and friends have pledged additional amounts and offered testimony in support of an application to U.S. District Judge Kenneth Fox to release Ulbricht on bail to the care of an aunt who lives in New York until Ulbricht’s parents can secure a residence in New York.

Ulbricht, who authorities say was Dread Pirate Roberts, the founder and operator of the online drug bazaar known as Silk Road who earned millions in commissions from the sale of drugs on the site, faces drug conspiracy and money laundering charges in the Southern District of New York. He also faces a more serious charge in Maryland of conspiring to have a former administrator of Silk Road murdered in exchange for $80,000. The deal was allegedly negotiated earlier this year between Dread Pirate Roberts and an undercover DEA agent.