Hello trader friends, this morning I received quite horrendous news, namely news stating that the Liberty Reserve site (online payment processor) which is commonly used for financial transactions, especially in the forex trading business, was declared CLOSED by the authorities. The closing of the Liberty Reserve site forcibly was due to the arrest of the founder and owner of Liberty Reserve, Arthur Budovsky Belanchuk in the Money Laundering case.
Arthur Budovsky Belanchuk who is a Ukrainian citizen, was arrested by the Costa Rica state police, in cooperation with the US police. Costa Rican police official José Pablo González stated that Arthur Budovsky Belanchuk had been investigated for money laundering for a long time, namely since 2011. And what is shocking is that this investigation is based on indications of money laundering practices taking place in a company owned by Arthur Budovsky Belanchuk , namely Liberty Reserve.
The Liberty Reserve site, which is one of the well-known Online Payment Processors, is indicated to be a tool for Arthur Budovsky Belanchuk to practice money laundering crimes, especially money from drug trafficking, as well as from sites with adult content that makes children -child as object.
The arrests made by the Costa Rican police are inseparable from the investigations carried out by the US police since 2007. In the end, Arthur Budovsky Belanchuk was arrested thanks to the cooperation of the two law enforcement institutions from Costa Rica and the United States.
At first I didn’t believe that the Liberty Reserve site was actually closed, but after I tried directly to access the Liberty Reserve site at http://www.libertyreserve.com, it turned out that it was no longer accessible. This is very surprising, because I thought, there must be a lot of people in the world who still have funds in their Liberty Reserve accounts. I personally don’t have any funds there, there are only about $0.2, because last Thursday I sold all my funds in Liberty Reserve.
Then my big question is, if it is true that the Liberty Reserve site is closed forever, then what will happen to the owners of the Liberty Reserve account, who still have funds there? Was there then an attempt by the authorities to help these people get their funds back, or was there some other procedure? What is certain is that we still need to wait for the continuation of the money laundering case carried out by Arthur Budovsky Belanchuk, the voter of the Liberty Reserve site. Hopefully there is the best solution, especially for owners of funds in Liberty Reserve.