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.

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.

Local investigations began
after a request from a
prosecutor’s office in New
York. On Friday, San José
prosecutors conducted raids in
Budovsky's house and offices in Escazá, Santa Ana, southwest
of San José, and
in the province of Heredia,
north of the capital.

Budovsky's businesses in Costa
Rica apparently were financed
by using money from child
Indecency websites and drug
trafficking.

New York conviction,
According to records from the
U.S. Justice Department, on July
27, 2006, Budovsky and a
partner identified as Vladimir
Kats were indicted by the state of New York on
charges of operating an illegal
financial business, GoldAge
Inc., from their Brooklyn
apartments.

They had transmitted at least
$30 million to digital currency
accounts worldwide since
beginning operations in 2002.

The digital currency exchange,
GoldAge, received and
transmitted $4 million
between Jan. 1, 2006, and June
30, 2006, as part of the money
laundering scheme.

Customers opened online
GoldAge accounts with limited
documentation of identity,
then GoldAge purchased digital
gold currency through those
accounts; the defendants' fees sometimes exceeded
$100,000.

Customers could choose their
method of payment to
GoldAge: wire remittances,
cash deposits, postal money
orders or checks.

Finally, the customers could
withdraw the money by
requesting wire transfers to
accounts anywhere in the
world or by having checks sent
to any identified individual.

Budovsky and Kats 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.

Source: http://www.loadedfilez.com

99% of people who use Liberty Reserve are hard working and honest companies,
individuals, parents and college goers who work tirelessly to earn a living by
receiving payment from sellers and buyers alike through the payment processor
(Liberty Reserve).
The current closure of Liberty Reserve without any consideration to the millions
who depend on their services to earn a living is not fair.
Many users of Liberty Reserve have loaned monies from the bank to build their businesses
and now have those funds tied up as the US Government has shut down the processor.
Restore the online services of Liberty Reserve to prevent untold suffering and hardship
to befall honest and genuine people who had once lost huge sums of money during the
e-gold era and till date, have not recovered their monies.

I didn't have any funds in my Liberty Reserve Account at the time it was
shut down, but what about those who have their lives savings in it.
Please sign this petition.
http://www.ipetitions.com/petition/us-government-restore-the-online-services-of/