Indictments Filed in $6B Money Laundering Ring

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.

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