Source: AP / The Washington Post
NEW YORK — The founder of an online currency transfer business was indicted in the United States along with six other people in a $6 billion money-laundering scheme described as “staggering” in its scope, authorities said Tuesday.
Arthur Budovsky is the founder of Liberty Reserve, a Costa Rica-based website long favored by cybercrime scammers. He was arrested in Spain on Friday.
A defendant identified as Budovsky’s partner, Vladimir Kats, was in custody in New York.
Authorities say the network processed at least 55 million illegal transactions worldwide for 1 million users, including 200,000 in the United States. They call the international money-laundering case the largest ever.
To read this article in its entirety visit The Washington Post.