Liberty reserve, a portal for money transfer, had been under money-laundering investigations for a long while now. The authorities have apparently found evidence that links the website to the said charges, leading to the arrest of Liberty Reserve’s founder.
At the same time, authorities have also shuttered the website, which had already been down for three days now. Ever since its launch, Liberty Reserve had been considered by many as a shady website which offered a free marketplace to cyber criminals from around the globe.
The website allows users to set up their accounts with as little as a mere email address and then explore different options of transferring money. Investigations against the website’s founder, Arthur Budovsky Belanchuk, had been ongoing ever since 2011. The authorities had been investigating as to whether or not his website is a direct means for money laundering.
It would appear that the authorities have finally determined that Liberty Reserve indeed indulges in such illegal activities. Belanchuk has been arrested while the U.S. and Costa Rick authorities have joined hands to look into the case.
There is also the possibility that Belanchuk may be extradited to U.S. It remains to be revealed as to why Belanchuk is of such interest to the U.S. authorities. In the past, we have seen similar efforts made by the U.S. law enforcement agencies against Kim Dotcom, who handled the now-demised MegaUpload. In Dotcom’s case, the courts eventually determined that the U.S. agencies had blatantly violated multiple laws in arresting Dotcom, who was eventually released.
Courtesy: Parity News