Today i want to share a great News that name is Liberty Reserve Is Down And Owner Arrested .
Many Liberty Reserve account holders reported that the website of Liberty Reserve is not functioning properly and because of this issue, client area is not accessible. According to web watch portals "Liberty Reserve" website is down from 24/05/13 09:34 PST . Liberty Reserve normally posts maintenance related news on their blog which is hosted on blogger platform is also down. After further digging , we saw that their servers are now pointing to a location which are believed to be used for domains which are seized by the US government.
As we investigated this issue deeper and found an article published on a Costa Rica based weekly news paper "The Tico Times" saying
Arthur Budovsky Belanchuk, 39, on Friday was arrested in Spain as part of a money laundering investigation performed jointly by police agencies in the United States and Costa Rica.According to"The Tico Times", San José prosecutors raided Budovsky's house and offices on friday after receiving a a request from a prosecutor’s office in New York for investigation. Records from the U.S. Justice Department reveals that on July 27, 2006, the owner of Liberty Reserve Budovsky and a partner identified as Vladimir Kats were indicted by the state of New York on charges of operating an illegal financial business. They both were sentenced to five years in prison for engaging in the business of transmitting money without a license, a felony violation of state banking law, but got probation.
Costa Rican prosecutor José Pablo González said Budovsky, a Costa Rican citizen of Ukrainian origin, has been under investigation since 2011 for money laundering using a company he created in the country called Liberty Reserve.