Digital currency exchange accused of biggest money laundering scheme ever

[JohnQPublic]

Digital currency exchange accused of biggest money laundering scheme ever

"...The United States government has shut down a digital currency website and jailed its executives for allegedly operating the largest money laundering scheme ever, considered by some to be “PayPal for criminals.”

Costa Rica-based Liberty Reserve has been seized by authorities
in the US following the unsealing of a federal grand jury
indictment Tuesday that charged the website and its
administrators with conspiracy to commit money laundering and
conspiracy to operate an unlicensed money transmitting business
by providing a means of channeling a currency without registering
in the US. Law enforcement agencies in 17 countries assisted with
the investigation.


In the complaint, Manhattan Attorney Preet Bharara said Liberty
Reserve was structured “as a criminal business venture, one
designed to help criminals conduct illegal transactions and
launder the proceeds of their crimes.”


“Its existence was based on a criminal business model,”
Bharara added at a Tuesday press conference..."

"...Budovsky had previously operated a similar exchange site,
GoldAge, but had that operation shut down in 2006 after being
charged by American officials with operating an illegal financial
services business. He then fled to Costa Rica while serving
probation for his felony conviction, renounced his US citizenship
and registered Liberty Reserve. When word of an investigation
surfaced in 2011, Budovsky told authorities he shut-down
Liberty’s Costa Rican operations. According to the indictment, though, the

company actually continued to function and funds were cycled
through a number of shell companies across the globe..."

"...the US. Liberty Reserve did not use Bitcoin in its transactions, instead relying on its own digital currency, the LR..."

[FreeEnergy]

Founded by two jews of Russian descent - Vladimir Katz and Arthur Budovsky. Huge number of intermediaries, clearly a money laundering enterprise.

Arthur Budovsky:
http://cdn.24.co.za/files/Cms/Genera...135ad2d08b.jpg

[sirgonzo420]

Money laundering is a bullshit non-crime.

If I take an ounce of gold and move it from one pocket to the other, am I laundering money?


But yeah, Liberty Reserve was used by criminals. But you know what is used by vastly more criminals, and was created and is maintained by criminals?


http://s3.amazonaws.com/rapgenius/fi...ollar_bill.jpg


all that being said, the seizure/closure of Liberty Reserve is good for Bitcoin, in a similar way to how the failure of Napster gave way to bit-torrent.

[madfranks]

Their biggest problem was that they were not too big to fail. The "largest money laundering scheme ever"? Don't make me laugh! It was just a year ago that HSBC got busted for netting $13.5 BILLION in laundered drug money, but how many of their executives went to jail? NONE!! They simply paid a $2 billion fine to sweep it all under the rug. What a joke!

[FreeEnergy]

HSBC is a known drug money moving bank. Has been known for 200+ years. You could get an older references, even books, and this name comes up. Looks like it was THE bank that moved opium money back to London. Even Wikipedia mentions it:

https://en.wikipedia.org/wiki/The_Ho...ng_Corporation

HSBC is one of the oldest banking groups in the modern world. The bank is known locally simply as "The Bank", "Hongkong Bank", "Hong Kong Bank" and "Lion Bank".
After the British established Hong Kong as a colony in the aftermath of the First Opium War, local merchants felt the need for a bank to finance the growing trade between China and Europe (with traded products including opium).[2][3] They established the Hongkong and Shanghai Banking Company Limited in Hong Kong (March 1865) and Shanghai (one month later).

[Horn]

Nobody should make more money than a select few at the top,

don't expect the economy to get any better until they are toppled, if possible.

[Shami-Amourae]

Liberty Reserve was a legit business, despite being run by Jews. In fact this story just proves that these Jews who ran it weren't "part of the club" and were trying to do the RIGHT THING, which is why they were shut down. The point is the bankers/governments are trying to shut down anything that remotely challenges their monopoly and demonizing them in the process to discredit them.

Jews don't like Jews who are trying to free the Goy.

Remember Irwin Schiff? He's a Jew, and tried telling people about how the IRS and Income Taxes were an illegal scam. He's now rotting in jail. They don't all work together, some are good, and trying to do the right thing.