Liberty Reserve Laundered $6 Billion, Say Feds
Executives at money-transfer business Liberty Reserve charged with running "bank of choice for the criminal underworld."
The Liberty Reserve investigation -- which involved law enforcement agencies in 17 countries -- is believed to be the biggest international money laundering prosecution in history, according to the Department of Justice.
A 27-page indictment, unsealed Tuesday in federal court, charged seven employees of the company, which is based in Costa Rica, with running a system "designed so that criminals could effect financial transactions under multiple layers of anonymity and thereby avoid apprehension by law enforcement." ... Read full story on InformationWeek
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