Financial
Man in drug website case wants his bitcoin back PDF  | Print |  E-mail
Written by Associated Press   
Monday, 23 December 2013 12:06

NEW YORK (AP) — An Internet entrepreneur accused of being behind an online marketplace for illegal drugs has asked the government to return more than $30 million in bitcoin seized from his computers.

Ross Ulbricht, of San Francisco, was arrested in October following a crackdown on the black market website Silk Road.

Federal prosecutors in New York say Ulbricht went by the online handle the Dread Pirate Roberts and turned the underground site into a place where anonymous users could buy or sell contraband and illegal services.

In court filings, prosecutors say they seized 144,336 bitcoins from Ulbricht's computers.

Though subject to fluctuations in value, the virtual currency is exceedingly valuable, but lightly regulated.

Ulbricht says in a legal filing that the currency should be returned because it isn't subject to civil forfeiture rules.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
Apple reaches deal to bring iPhone to China Mobile PDF  | Print |  E-mail
Written by MARLEY SEAMAN, AP Business Writer   
Monday, 23 December 2013 07:14

NEW YORK (AP) — Apple says it has reached a deal to bring the iPhone to China Mobile, the world's biggest phone carrier.

The deal ends a lengthy courtship and could boost sales of the iPhone in China. The iPhone, once hugely popular in China, has been eclipsed by the rise of lower-priced rival smartphones from Samsung and Chinese companies.

The iPhone 5S and 5C will go on sale in Apple stores and China Mobile stores beginning Friday, Jan. 17. China Mobile customers can register for phones starting Wednesday.

The companies didn't announce pricing or the terms of the agreement.

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Weak U.S. card security made Target a juicy target PDF  | Print |  E-mail
Written by JONATHAN FAHEY, AP Business Writer   
Monday, 23 December 2013 07:15

NEW YORK (AP) — The U.S. is the juiciest target for hackers hunting credit card information. And experts say incidents like the recent data theft at Target's stores will get worse before they get better.

That's in part because U.S. credit and debit cards rely on an easy-to-copy magnetic strip on the back of the card, which stores account information using the same technology as cassette tapes.

"We are using 20th century cards against 21st century hackers," says Mallory Duncan, general counsel at the National Retail Federation. "The thieves have moved on but the cards have not."

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In 'Duck Dynasty' hometown local loyalty prevails PDF  | Print |  E-mail
Written by TAMARA LUSH, Associated Press   
Monday, 23 December 2013 07:12

WEST MONROE, La. (AP) — "Faith. Family. Ducks." It's the unofficial motto for the family featured in the TV reality show Duck Dynasty and that homespun philosophy permeates nearly everything in this small north Louisiana town.

It's perhaps most on display at the White's Ferry Road Church of Christ in West Monroe, where the Robertson family prays and preaches most Sunday mornings.

The family — including patriarch Phil Robertson, who ignited a controversy last week when he told a magazine reporter that gays are sinners and African-Americans were happy under Jim Crow laws — were in a front pew this past Sunday. And standing by beliefs they say are deeply rooted in their reading of the Bible.

The rest of the flock, decked out in Duck Dynasty hats and bandannas, stood by the family and the sentiments Phil Robertson expressed.

Alan, Robertson's eldest son, helped deliver a Christmas-themed sermon. He started off by referring to last week's controversy.

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