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Liberty Reserve Seized by U.S. Government

posted May 29, 2013, 7:47 AM by Beau Bullock

Liberty Reserve, a primary monetary exchange site for criminals, was shut down this week by the U.S. Government. Allegedly Liberty Reserve laundered six billion dollars for criminal purposes. An indictment filed in the U.S. District Court for the Southern District of New York states that Arthur Budovsky, a 39 year old Ukrainian native and five co-conspirators operated Liberty Reserve as “a financial hub of the cyber-crime world, facilitating a broad range of online criminal activity, including credit card fraud, identity theft, investment fraud, computer hacking, child pornography, and narcotics trafficking.” From 2006 Liberty Reserve has processed more than 55 million transactions.