Liberty Reserve Shuttered - Founder Arrested

This has been reported as a post in another thread, but this is a HUGE story, deserving of a thread of its own.

From CBS News:

NEW YORK - Federal prosecutors have indicted the founder of an online currency transfer business, along with six other people, on charges they perpetrated a $6 billion money-laundering scheme.

Arthur Budovsky is the founder of Liberty Reserve, a Costa Rica-based website long favored by cybercrime scammers. He was arrested in Spain on Friday. A defendant identified as Budovsky's partner, Vladimir Kats, was in custody in New York.

"As alleged, the only liberty that Liberty Reserve gave many of its users was the freedom to commit crimes -- the coin of its realm was anonymity, and it became a popular hub for fraudsters, hackers and traffickers," said Preet Bharara, U.S. Attorney for the Southern District of New York, in a statement. "The global enforcement action we announce today is an important step towards reining in the 'Wild West' of illicit Internet banking."

Much more from the article above.....
http://www.cbsnews.com/8301-505123_162-57586453/feds-bust-online-currency-firm-in-$6b-money-laundering-scheme/

 

Hello,

Already a thread here: https://www.wilderssecurity.com/showthread.php?p=2234728#post2234728