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2 Bitcoin exchangers arrested in 'Silk Road' drug prosecution are charged with conspiracy

Federal prosecutors say two men are charged in New York with conspiring to commit money laundering by selling more than $1 million in Bitcoins to users of the black market website Silk Road, which lets users buy illegal drugs anonymously.

Authorities say Charlie Shrem was arrested Sunday at New York's Kennedy Airport while Robert Faiella was arrested Monday at his Cape Coral, Fla., residence.

Prosecutors say in a news release that Faiella sold Bitcoins to users seeking to buy illegal drugs on the site through a Manhattan office.

They say Shrem personally bought drugs on Silk Road and helped Faiella exchange more than $1 million in cash for Bitcoins so they could make illegal purchases.

It wasn't immediately clear who would represent Faiella and Shrem in court.

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