Virtual Currency Founder Extradited to Face US Charges

  • 11 October 2014
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By AFP on October 11, 2014
 
NEW YORK - The founder of virtual currency firm Liberty Reserve, Arthur Budovsky, was extradited Friday from Spain to face US criminal charges for operating what officials called a massive money-laundering scheme.
Budovsky, a 40-year-old Costa Rican national and former US citizen, will be tried in the US on charges related to setting up the alternative digital currency used by criminals around the world to launder illegal profits, federal prosecutors said.
Budovsky is accused of being the "principal founder" of the Costa Rica-based scheme, which is accused of laundering more than $6 billion for criminals between 2006 and 2013.
He arrived in New York on Friday afternoon and will be arraigned before US district Judge Denise Cote on Tuesday.
The news comes two weeks after Maxim Chukharev, Liberty's head of technology, pleaded guilty in New York federal court to conspiring to operate an illegal unlicensed money transmitting business.
 
SecurityWeek/ Article/ http://www.securityweek.com/virtual-currency-founder-extradited-face-us-charges

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