Liberty Reserve Co-Founder Confesses

Back in May of this year, a fairly detailed article was published on Liberty Reserve on Habré, dedicated to the description of the system itself and the reasons for its collapse. After the news of the closure of Liberty Reserve was spread across the media, various forums began to appear in large numbers on forums of various kinds discussing who lost how much money was left in their wallets in the system. A little time passed, and gradually began to forget about Liberty Reserve. Today, news about the system reappeared due to the fact that one of its founders, Vladimir Katz, made a confession.

In fact, Katz admitted all the charges, including illegal financial transactions in the interests of criminal structures, operations related to the sale of weapons, drugs and other things. By the way, the prosecution insists on receiving a fine from the defendants in the amount of 6 billion dollars, 1 billion for each year of proven illegal activity.

In total, the system worked for about eight years, and it was used, of course, not only by criminals, but also ordinary users who carry out various kinds of transactions (or simply store their funds in electronic wallets). Liberty Reserve was an anonymous system that many people liked. According to the prosecution, Liberty Reserve had more than a million users, of which 200 thousand were from the United States.

Liberty Reserve funds could be withdrawn in Russia, Malaysia, Vietnam, Nigeria and other countries (of course, the so-called "money changers" worked, expanding the possibilities of withdrawing and exchanging funds).

Via theverge