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

Trendingnow

1

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

2

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

3

Current price of oil as of June 10, 2026

1

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

2

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

3

Current price of oil as of June 10, 2026
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

Meet the SpaceX employees who are set to become multimillionaires thanks to its IPO: from execs to even welders
SuccessWealth
Meet the SpaceX employees who are set to become multimillionaires thanks to its IPO: from execs to even welders
By Preston ForeJune 11, 2026
55 minutes ago
ice
LawImmigration
Westchester County built a 600-camera plate reader network that shared 1.6 billion scans with ICE, lawsuit says
By Byron Tau and The Associated PressJune 11, 2026
1 hour ago
brazil
Arts & EntertainmentWorld Cup
Brazil’s biggest soccer broadcaster Is now a guy who started on Twitch. He beat Globo
By Nick Lichtenberg, Tales Azzoni and The Associated PressJune 11, 2026
1 hour ago
visa
AIVisa
Visa thinks it’s a great idea for AI agents to shop and pay for things without human approval
By Barbara Ortutay, Ken Sweet and The Associated PressJune 11, 2026
1 hour ago
carney
North AmericaSocial Media
Canada joins global movement to ban social media for kids: ‘We are failing our children. Enough is enough’
By Rob Gillies and The Associated PressJune 11, 2026
1 hour ago
amodei
AIAnthropic
Anthropic is worth $965 billion and just hired 1,000 coaches for nonprofits: ‘The fox can’t guard the henhouse’
By Glenn Gamboa and The Associated PressJune 11, 2026
2 hours ago

Most Popular

Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
Energy
Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
By Sasha RogelbergJune 10, 2026
21 hours ago
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
3 days ago
Current price of oil as of June 10, 2026
Personal Finance
Current price of oil as of June 10, 2026
By Joseph HostetlerJune 10, 2026
1 day 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
3 days ago
Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
Innovation
Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
By Amanda GerutJune 9, 2026
2 days ago
A ‘MAGA Warrior’ Texas ag chief is publicly blasting the USDA over a flesh-eating pest threatening America's beef supply
North America
A ‘MAGA Warrior’ Texas ag chief is publicly blasting the USDA over a flesh-eating pest threatening America's beef supply
By Marco Quiroz-GutierrezJune 10, 2026
1 day 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.