Indictments Filed in $6B Money Laundering Ring

Tuesday, 28 May 2013 10:32 AM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
Authorities say the founder of a Latin America-based currency system and six other people have been indicted in the United States in a $6 billion money-laundering scheme.

Federal prosecutors in Manhattan are expected to announce the charges on Tuesday afternoon.

Arthur Budovsky is the founder of Liberty Reserve, a currency system long favored by cybercrime scammers. He was arrested in Spain on Friday.

There also were arrests in Costa Rica and New York.

Authorities say the network processed at least 55 million illegal transactions worldwide. They call the international money-laundering case the largest ever.

Declassified: ‘Financial War’ Could Wipe Out 50% of Your Wealth’

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Sony Hackers Taunt FBI, 'Congratulate' Its Success

Saturday, 20 Dec 2014 20:06 PM

A new message claiming to be from the group responsible for the Sony Pictures hack appears to mock the FBI, which named  . . .

US Turns to China to Help Stop NKorean Hackers

Saturday, 20 Dec 2014 19:42 PM

The Obama administration is seeking China's help in stopping North Korea from launching future cyber-attacks, the New Yo . . .

RNC to Theaters: 'We Cannot Be Bullied,' Show 'Interview'

Saturday, 20 Dec 2014 19:20 PM

The Republican National Committee is urging theater owners to play the The Interview following Sony's decision to pull . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved