Payment Processor Founder Budovski Liberty Reserve sentenced to 20 years in prison


May 7, 2016 Facebook Twitter LinkedIn Google+ MLM & Affiliate Marketing News



Payment Processor Founder Budovski Liberty Reserve sentenced to 20 years in prison

Liberty Reserve founder sentenced to 20 years in prison

Posted: 06 May 2016 07:05 PM PDT

In what I believe is the first case of a payment processor founder being criminally charged since I started BehindMLM, Arthur Budovsky Belanchuk, founder of Liberty Reserve, has been sentenced to 20 years in prison. The DOJ shut down Liberty Reserve back in mid 2013. Budovski was arrested in Spain, following a joint-operation by US, [Continue reading…] Source: Liberty Reserve founder sentenced to 20 years in prison

Budovsky was aware that a substantial volume of digital currency transactions were related to Internet investment schemes called high-yield investment programs (“HYIPs”), which he knew to be online Ponzi schemes.

Budovsky was also aware that digital currencies were used by other

Preet Bharara, the United States Attorney for the Southern District of New York, and Leslie R. Caldwell, Assistant Attorney General for the Justice Department’s Criminal Division, announced that ARTHUR BUDOVSKY, 42, was sentenced today in Manhattan federal court to 20 years in prison.

Mr. Bharara praised the outstanding work of the United States Secret Service, the Internal Revenue Service-Criminal Investigation, and the U.S. Immigration and Customs Enforcement’s Homeland Security Investigations, which worked together in this case as part of the Global Illicit Financial Team.

Mr. Bharara also thanked the United States Secret Service’s New York Electronic Crimes Task Force for its extraordinary assistance with the investigation.

Additionally, Mr. Bharara specially thanked all the international law enforcement agencies that assisted in the investigation, in particular, the Judicial Investigation Organization in Costa Rica, Interpol, the National High Tech Crime Unit in the Netherlands, the Spanish National Police-Financial and Economic Crime Unit, the Cyber Crime Unit at the Swedish National Bureau of Investigation, and the Swiss Federal Prosecutor’s Office.

Read the full article and join in the discussion over at BehindMLM.

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