Source: BBC News, The Takeaway, 29th May 2013
Liberty Reserve – a Costa Rican-based digital currency service – has been shut down after the reported arrest of its founder. Authorities in the Central American country said Arthur Budovsky had been taken into custody in Spain on suspicion of money laundering.
The size of the operation has been described as “staggering.” This one online network is thought to have processed over 55 million illegal transactions for 1 million users, including at least 200,000 in the U.S.
How does one launder $6 billion? Jeffrey Robinson, author of “The Laundrymen” and known as one of the world’s leading experts on international financial crime, speaks about this case on The Takeaway: