The US Department of Justice has revealed information regarding the disappearance of e-processor Liberty Reserve last year.
In a statement, the DOJ said that the 35-year-old chief technical officer at Liberty Reserve, Mark Marmilev, was doing five years in prison for conspiring to operate an unlicensed money transmitting business involving funds that he knew came from criminal activity.
The federal government shut down the company, registered in Costa Rica, in May 2013; however additional names involved are still under investigation.
Marmilev pled guilty this year before U.S. District Judge Denise L. Cote, who sentenced him on Friday.
Assistant Attorney General Leslie R. Caldwell said, “Marmilev used his tech savvy to create a virtual currency business that was used extensively by criminals throughout the world. He and Liberty Reserve’s founders boasted they were outside the reach of U.S. law enforcement, and he couldn’t have been more wrong.
“His prison sentence shows that those who hide their illegal activities from the scrutiny of the Justice Department will be caught and will go to prison.”
More information regarding the case can be found on the DOJ website
jade
9 years ago
I read the article noted up there and it said that there were more than 600,000 US customers. But, I didn't see anywhere in the article where online gambling was one of the businesses used by this cyber currency. It did admit to "credit card fraud, identity theft, investment fraud, computer hacking, child pornography and...
I read the article noted up there and it said that there were more than 600,000 US customers. But, I didn't see anywhere in the article where online gambling was one of the businesses used by this cyber currency. It did admit to "credit card fraud, identity theft, investment fraud, computer hacking, child pornography and narcotics trafficking." OK, it did say "and other crimes" but, online gambling is such a popular subject, especially in the news, wouldn't you expect them to name it if it were involved? The article didn't say the name of this cyber currency but, it was closed down May, 2013.
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