New York Regulator Hires Former IRS Silk Highway Investigator as Common Counsel

The New York Division of Monetary Companies has appointed Richard Weber, a former chief of the Felony Investigation Division of the IRS, as its new normal counsel.

Weber, who led the IRS division throughout the company’s investigation into the Silk Highway darkweb market throughout his time with the company, has most just lately headed monetary crime prevention at UBS and Deutsche Financial institution. Weber has intensive expertise overseeing monetary crimes considerations, NYDFS introduced in a press launch Tuesday.

In an announcement, NYDFS Superintendent Linda Lacewell mentioned Weber brings “authorized acumen and administration expertise” to the company, which supervises and regulates crypto exchanges and different companies interacting with cryptocurrencies in New York.

“His intensive management expertise and depth of authorized information shall be very important in serving to the state emerge stronger and safer from this unprecedented disaster,” she mentioned.

Weber was a part of the group wanting into federal brokers who violated federal legislation in investigating the Silk Highway market, in response to a 2015 FBI press launch. On the time, Drug Enforcement Administration agent Carl Mark Pressure IV was accused of stealing from the U.S. authorities and targets of the Silk Highway investigation. He later pleaded responsible and was sentenced to 78 months in jail.

“I look ahead to becoming a member of the gifted group Superintendent Lacewell has constructed that’s dedicated to preventing for New York’s shoppers and safeguarding our markets,” Weber mentioned in an announcement.

In line with NYDFS’s press launch, Appearing Common Counsel Kevin Bishop will keep on with the company, however he shall be moved to a deputy function overseeing the regulator’s regulatory and legislative work.