Founder of Liberty Reserve extradited to the U.S.
Posted by: Timothy Weaver on 10/11/2014 11:47 AM
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Arthur Budovsky, 40, a citizen of Costa Rica, and the founder of Liberty Reserve, a virtual currency, has been extradited to the U.S. allegedly for allowing cybercriminals to launder money.
Budovsky, a former U.S. resident, has been accused by the DOJ of allowing criminals "to process illegal payments and to launder billions of dollars in crime proceeds" according to a statement by Assistant Attorney General Leslie Caldwell.
Budovsky founded Liberty Reserve after running a third-party exchange service called Gold Age for the digital currency E-Gold.
The DOJ alleged that Budovsky sought out criminals as customers while seeking to evade the reach of the U.S. law enforcement agency.
The DOJ said that some of the transactions involved funds obtained through credit card fraud, computer hacking and narcotics trafficking, among other crimes.
Budovsky, a former U.S. resident, has been accused by the DOJ of allowing criminals "to process illegal payments and to launder billions of dollars in crime proceeds" according to a statement by Assistant Attorney General Leslie Caldwell.
Budovsky founded Liberty Reserve after running a third-party exchange service called Gold Age for the digital currency E-Gold.
The DOJ alleged that Budovsky sought out criminals as customers while seeking to evade the reach of the U.S. law enforcement agency.
The DOJ said that some of the transactions involved funds obtained through credit card fraud, computer hacking and narcotics trafficking, among other crimes.
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