Alleged Silk Road owner pleads not guilty to all charges

Ross Ulbricht, the 29-year-old man accused of operating the digital underground drug marketplace Silk Road, has pleaded not guilty on all charges despite the fact that prosecutors say they have eight to 10 terabytes worth of evidence, reports Forbes.

Ulbricht faces more than 20 years in prison on allegations that he engaged in narcotics trafficking conspiracy, computer hacking conspiracy, and money laundering conspiracy related to activities on Silk Road. More than $1.2 billion worth of commerce was conducted on the site exclusively in the virtual currency Bitcoin.

Prosecutors allege that Ulbricht launched and operated the site under the pseudonym Dread Pirate Roberts. He is being held without bail and the trial is scheduled to begin in November.

His mother, who has taken over his Facebook page, posted the following statement Tuesday after her son was arraigned and the full list of charges read:

Ross sounds like one tough criminal from this over-the-top list. No way is it a description of the actual Ross Ulbricht. The most accurate sentence in the indictment is the last one: "The charges contained in the Indictments are merely accusations, and the defendants are presumed innocent unless and until proven guilty."The Silk Road opened in 2011 and was shut down by the FBI in October. It was resurrected by members of the first site, but seems poised to shut down again after the arrests of two moderators.

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