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Liberty Reserve digital money service forced offline

Posted By admin On May 28, 2013 @ 4:49 am In Money Watch | Comments Disabled

BBC News [1]
May 28, 2013

Liberty Reserve – a Costa Rican-based digital currency service – has been shut down after the reported arrest of its founder.

Authorities in the Central American country said Arthur Budovsky had been taken into custody in Spain on suspicion of money laundering, following an investigation which also involved the US.

They added that police had raided several of Mr Budovsky’s properties [2] and seized his computer servers.

The site went offline on Thursday.

Liberty Reserve had described itself as being the internet’s “oldest, safest and most popular payment processor… serving millions all around a world”.

Full article here [1]

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[1] BBC News: http://www.bbc.co.uk/news/technology-22680297

[2] raided several of Mr Budovsky’s properties: http://www.youtube.com/watch?v=4I9mbMD9tlM&feature=youtube_gdata

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