Creator of Online Money Gets 20 Years in Prison (cnn.com)

An anonymous reader quotes this report from CNN: Before the virtual currency Bitcoin there was Liberty Reserve -- and its founder just got sentenced to 20 years in prison. Arthur Budovsky, 42, ran an online digital money business out of Costa Rica called Liberty Reserve. The U.S. government contended that the whole thing was just a massive, $6 billion money laundering operation. On Friday, U.S. District Judge Denise L. Cote sentenced him to two decades in federal prison. She said Budovsky did not show "genuine remorse," according to the Department of Justice...

The U.S. government used the Patriot Act to go after this payment processor. The U.S. Treasury Department labeled it a money laundering organization, and cut it off from the American financial system. In 2013, American investigators took over the website and shut it down. In 2014, Budovsky and several coworkers were arrested in Spain. Then Budovsky was extradited to the United States to face trial for money laundering and operating an unlicensed money transmitting business.

Comments

Listen to right wing talk radio

[rsilvergun]

an the way into work some day. Rush, G Gordon, Glen Beck and the like. It's fairly pervasive. You may not respect the folks who think like this but here's the problem: they vote. American politics isn't about who's right or wrong, it's about who votes. Because we're a two party winner take all system. That's why Trump made it so far and why he might be our next president. My local senator is freaking the hell out because I'm in Arizona and it's possible there might be enough hispanics that make it to the polls to vote against Trump to unseat him. Pay attention to how I wrote that. I didn't say "bother to vote" I said "Make it to the polls" because there's a _lot_ of voter surpression going on. We had 60 polling places in Phoenix, Az this year. We usually have 200. That wasn't an accident...