• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there

1

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

3

Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Techross ulbricht

Silk Road mastermind gets life in prison for drug, conspiracy crimes

Jeff John Roberts
By
Jeff John Roberts
Jeff John Roberts
Editor, Finance and Crypto
Down Arrow Button Icon
Jeff John Roberts
By
Jeff John Roberts
Jeff John Roberts
Editor, Finance and Crypto
Down Arrow Button Icon
May 29, 2015, 4:12 PM ET
Ross William Ulbricht
This Feb 4, 2015, file courtroom sketch, shows defendant Ross William Ulbricht as the deputy recites the word “guilty” multiple times during Ubricht’s trial in New York.Courtesy of Elizabeth Williams — AP

Ross Ulbricht was an Eagle Scout and a popular physics student who made a fateful decision to reinvent himself as the “Dread Pirate Roberts,” a pseudonym he used to operate a massive illegal online bazaar known as the Silk Road. It came crashing down hard on Friday as a federal judge in Manhattan sentenced Ulbricht to serve the rest of his life in prison, following his earlier conviction on seven charges related to conspiracy, narcotics and money-laundering.

The punishment is surprisingly harsh, exceeding even what the prosecutors had proposed. Ulbricht, who had earlier implored the judge to “please leave my old age,” can appeal the sentence, though that would be a long shot.

“You were the captain of the ship as Dread Pirate Roberts, and you enforced the law as you see fit,” U.S. District Judge Katherine Forrest told Ulbricht in imposing the sentence.

Forrest issued the sentence after Ulbricht addressed the court, pleading that he was remorseful and had changed.

“I’m not a self-centered, sociopathic person… I just made some very serious mistakes,” said Ulbricht who wore shirt-sleeves, and occasionally slipped into his native Texas drawl.

Ulbricht may have been able to obtain a lighter sentence had he pled guilty, but he instead went with a far-fetched defense strategy at trial that claimed that he had started the site, but that someone else was the real Dread Pirate Roberts.

The judge suggested that her decision to come down so harshly was in part due to Ulbricht’s attempt to hire hit men and in part by the scale of the operation, which led drug dealers using Silk Road to customers across the world. Forrest cited the harm caused by drugs, and the testimony of two parents who gave victim impact statements in court about how they had lost their children to Silk Road-related overdoses.

But Forrest’s decision also appeared to be a philosophical renunciation of the ideals of Silk Road, whose proponents said it provided a forum for freedom and served as a harmless alternative to street crime and the U.S. war on drugs. The judge declared that this was an argument of the “privileged” and said that Ulbricht was no different than a drug dealer from the Bronx.

Judge Forrest also rejected Ulbricht’s lawyers suggestion that a long sentence would be arbitrary, and would not serve the goal of “general deterrence.” Rather, she said, harsh sentences can act as a deterrent in unusual, high-publicized cases like Silk Road.

Friday’s hearing came at a court room so crowded that many spectators were forced into a nearby overflow area. The court scene reflected the worldwide interest in the Silk Road affair, which included numerous ripped-from-an-action-movie elements, including the FBI’s dramatic 2013 takedown of Ulbricht in a San Francisco library.

The ensuing criminal case included allegations that Ulbricht attempted to hire hit men (in reality FBI agents) to kill employees he believed had betrayed him. It also featured an FBI agent who went rogue, and sold Ulbricht information about the government’s case for hundreds of thousands of dollars, paid in bitcoins.

Ulbricht’s case has been of huge interest to bitcoin users, in part because it has at times unfairly maligned the virtual currency, which is also used for everyday transactions. The bitcoin community also took an interest because of Ulbricht’s personal bitcoin fortune—which the U.S. Marshals Service has been selling in a series of auctions.

This story was updated several times

About the Author
Jeff John Roberts
By Jeff John RobertsEditor, Finance and Crypto
LinkedIn iconTwitter icon

Jeff John Roberts is the Finance and Crypto editor at Fortune, overseeing coverage of the blockchain and how technology is changing finance.

See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Xbox CEO Asha Sharma
SuccessCareers
Xbox’s CEO spent her early career taking out trash and selling coupon books—she says the secret to her rise was never obsessing over a dream career
By Preston ForeJune 10, 2026
1 hour ago
Boris Cherny, Head of Claude Code
SuccessHiring
The architect behind Claude Code reveals the three things Anthropic looks for in a good hire—and why people with low ego are a must
By Emma BurleighJune 10, 2026
2 hours ago
Trump sits at the Resolute Desk with his hands folded
AIImmigration
OpenAI and Nvidia CEOs didn’t flinch at Trump’s $100,000 H-1B visa fee, and now they’re paying up as their application numbers soar
By Jacqueline MunisJune 10, 2026
2 hours ago
Current price of Ethereum for June 10, 2026
Personal FinanceEthereum
Current price of Ethereum for June 10, 2026
By Joseph HostetlerJune 10, 2026
3 hours ago
goldman
Investingprivate equity
‘The circulatory system isn’t working.’ Goldman on what’s really wrong with private markets
By Nick LichtenbergJune 10, 2026
4 hours ago
Exclusive: Mastercard launches protocol to let AI agents pay each other, send micropayments
BankingMastercard
Exclusive: Mastercard launches protocol to let AI agents pay each other, send micropayments
By Ben WeissJune 10, 2026
4 hours ago

Most Popular

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
Asia
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
By Kate O'Keeffe and BloombergJune 8, 2026
2 days ago
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
Economy
'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
By Nick LichtenbergJune 9, 2026
24 hours ago
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
Success
Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there
By Preston ForeJune 8, 2026
2 days ago
Current price of oil as of June 9, 2026
Personal Finance
Current price of oil as of June 9, 2026
By Joseph HostetlerJune 9, 2026
1 day ago
Current price of silver as of Tuesday, June 9, 2026
Personal Finance
Current price of silver as of Tuesday, June 9, 2026
By Joseph HostetlerJune 9, 2026
1 day ago
Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
Investing
Wall Street dumped nearly $1 trillion in tech stocks by midday—then clawed it back and bought peanut butter and paint
By Eva RoytburgJune 9, 2026
19 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.