Feds Indict E-Currency Co. In $6B Money Laundering Scheme

Law360, New York (May 28, 2013, 3:58 PM EDT) -- Federal prosecutors Tuesday accused digital currency operator Liberty Reserve, the company's founder and six current and former employees of running a $6 billion money laundering scheme, as Liberty Reserve became the “bank of choice for the criminal underworld.”

Costa Rica-based Liberty Reserve provided real-time digital currency transactions that shielded users' identities, making it a top tool for criminal operations looking to launder their profits and buy and sell illicit products and services, according to the indictment filed in the Southern District of New York.

“Indeed, Liberty...
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