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Liberty Reserve finally shutters...
 

I used them once to pay for a VPS and vowed never again. It costs like 10% just to convert dollars into their currency. I was unaware, at the time, that it was mainly being used for criminal purposes - I thought it was just another payment service like PayPal.

Its a little scary that the government can shut them down, though. ANYTHING can be used for an illegal purpose. For example, cars are legal, but if you get mad at someone and use your car to run them over, it has just been used to commit a crime. But we don't ban cars.

Well, the creator had already gotten in trouble for fraud previous to starting LR, then he left the country to continue his ill/egal businesses. He's a dumba$$ for thinking no one has been watching him.

rsot claims to have known the guy. Where are you on this one buddy? Haha

And the biggest money launderers in the world, the big banks, get away Scott free.

http://www.exchangezone.com/ also

So what happen with all the LR$ that floating around???????

I don't mess with LR because of the fact that it was built on shady principles from an even more shady individual.

I'm sure whatever hasn't been paid out will be frozen until further notice. Who really knows?

And, sax4, unfortunately $1.4 billion/year is not enough to pay off the necessary individuals.

That is pretty rough about LR wow...never used their services much.

@unkown5454...I just want to be clear...think you have me confused with knowing the guy for ALERTPAY :) hah he was a champ - started out by selling comic books. Alertpay went the way of the dodo but you were close unkown :thumb:

Wish I knew the folx behind LR...

....

It's not the first time Budovsky has run into trouble with the Justice Department. On July 27th, 2006, his Brooklyn-based company GoldAge was indicted for illegal money transmittal. He was sentenced to five years of probation, after which he renounced US citizenship and moved to Costa Rica to found Liberty Reserve.

...

:eek:

Damn!t, yes, I apologize. Similar type of businesses confused me.

All good unkown - both are sketch and going down the drain hah. Will be affecting people though so that sucks

i'm lost money here. hix hix.

Sad to hear bioline - hix hix is no good too