Backpage CEO pleads guilty to conspiracy, money laundering

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Carl Ferrer, the co-founder of Backpage, the notorious and now-shuttered site that once hosted a vast quantity of prostitution-related ads, has pleaded guilty to conspiracy and money laundering charges.

The CEO, in a federal plea agreement unsealed in federal court in Arizona on Thursday, admitted that during the 14 years of the site's existence, "the great majority" of Backpage's allegedly hundreds of millions of dollars in revenue came from placing illegal ads for prostitution.

The deal was made public just three days after Backpage was seized, and seven men allegedly involved in creating and operating Backpage were indicted on prostitution and money laundering charges. Ferrer's name did not appear in that indictment.

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