Liberty Reserve co-founder Vladmir Kats sentenced to 10 years in prison


May 14, 2016 Facebook Twitter LinkedIn Google+ MLM & Affiliate Marketing News



Liberty Reserve co-founder Vladmir Kats sentenced to 10 years in prison

Liberty Reserve co-founder sentenced to 10 years in prison

Posted: 13 May 2016 06:29 PM PDT

Following the regulatory shutdown of Liberty Reserve in May, 2013, co-founder Vladmir Kats was the first executive to enter a guilty plea. In November, 2013, Kats plead guilty to “money laundering and operating an unlicensed money transmitting business”. Commenting on the plea at the time, Acting Assistant Attorney General Mythili Raman and U.S. Attorney Preet Bharara [Continue reading…] Source: Liberty Reserve co-founder sentenced to 10 years in prison

Vladimir Kats, by his own admission, helped to create and operate an anonymous digital currency system that provided cybercriminals and others with the means to launder criminal proceeds on an unprecedented scale.

As a co-founder and operator of Liberty Reserve, Vladimir Kats served as a global banker for criminals, giving them an anonymous, online forum to hide the proceeds of their illegal and dangerous activities.

That help included giving agents the password to encrypted child pornography on his hard drive.

U.S. District Judge Denise Cote said at Kats’s sentencing in Manhattan that she needed to balance his “extraordinarily important” cooperation with the government’s prosecution of Budovsky against the criminal activity that he had made his life’s work.

Also on Friday, Cote sentenced Azzedine El Amine, who pleaded guilty in 2014 to conspiracy for his role as Kats’s and Budovsky’s deputy, to the time he’s already served.

The judge ordered him released from custody. El Amine also cooperated with the government.

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

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