Largest Money-Laundering Scam In History?

Explanation: Bharara speaks beside a chart detailing the operation of the Costa Rica-based company

Online Currency Company Founder Indicted For Largest Money-Laundering Scam In History 'After Website Users Carried Out Millions Of Criminal Transactions Worth $6 BILLION' -- Daily Mail

* Arthur Budovsky, founder of Liberty Reserve, arrested in Spain on Friday
* Six others have also been charged in $6 billion money transfer scheme
* Liberty Reserve allowed users to convert money to online currency
* Transactions 'hid the proceeds of crimes including credit card fraud, child pornography, identity theft and drugs trafficking'
* U.S. Attorney: 'It was the bank of choice for the criminal underworld'

The founder of an internet company that allows users to convert money to an online currency has been indicted in the U.S. for a massive $6 billion money-laundering scheme - in what authorities have called the largest case of its kind in history.

Arthur Budovsky, the founder of Liberty Reserve, was arrested in Spain on Friday.

The Costa Rica-based company, which had more than one million users, allegedly helped hide 55 million illegal transactions across the world, authorities said today.

In total, seven people indicted for their alleged part in the cyber network, which authorities said was 'staggering' in scope. Budovsky's partner, Vladimir Kats, is in custody in New York.

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More News On Liberty Reserve Being Shut Down In A $6bn Money Laundering Case

U.S. accuses currency exchange of laundering $6 billion -- Reuters
US charges seven men over Liberty Reserve digital cash laundering -- The Australian/Wall Street Journal
Liberty Reserve shut down in $6bn money laundering case -- The Telegraph
US prosecutors: Liberty Reserve ran $6bn money-laundering scheme -- The Guardian
Police in 17 Countries Smash Huge Money Laundering Scheme -- Voice of America
Feds bust online currency firm in $6B money-laundering scheme -- CBS/AP
Secret Service busts $6 billion money laundering scheme -- FOX News
Digital currency exchange accused of biggest money laundering scheme ever -- RT
Online Service Is Accused in Laundering of $6 Billion -- New York Times
7 charged in $6B online money-laundering case -- Miami Herald
Liberty Reserve website at center of $6 billion money-laundering scheme: prosecutors -- New York Daily News
Liberty Reserve Founder Indicted on $6 Billion Money-Laundering Charges -- Threat Level
Alleged $6 billion money-laundering network busted -- USA Today
Liberty Reserve founder arrested in Spain -- The Guardian