New York Regulator Hires Former IRS Silk Road Investigator as General Counsel

wallst
28 April 2020

The New York Department of Financial Services has appointed Richard Weber, a former chief of the Criminal Investigation Division of the Internal Revenue Service, as its new general counsel.

Weber, who led the IRS division during the agency’s investigation into the Silk Road darkweb marketplace during his time with the agency, has most recently headed financial crime prevention at UBS and Deutsche Bank. Weber has extensive experience overseeing financial crimes concerns, NYDFS announced in a press release Tuesday.

In a statement, NYDFS Superintendent Linda Lacewell said Weber brings “legal acumen and management experience” to the agency, which supervises and regulates crypto exchanges and other businesses interacting with cryptocurrencies in New York.

“His extensive leadership experience and depth of legal knowledge will be vital in helping the state emerge stronger and safer from this unprecedented crisis,” she said.

Weber was part of the team looking into federal agents who violated federal law in investigating the Silk Road marketplace, according to a 2015 FBI press release. At the time, Drug Enforcement Administration agent Carl Mark Force IV was accused of stealing from the U.S. government and targets of the Silk Road investigation. He later pleaded guilty and was sentenced to 78 months in prison.

“I look forward to joining the talented team Superintendent Lacewell has built that is committed to fighting for New York’s consumers and safeguarding our markets,” Weber said in a statement.

According to NYDFS’s press release, Acting General Counsel Kevin Bishop will stay on with the agency, but he will be moved to a deputy role overseeing the regulator’s regulatory and legislative work.