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  #1  
Old 05-28-2013
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Default Liberty Reserve finally shutters...

Justice Department shuts down anonymous banking service Liberty Reserve, alleging $6 billion laundered | The Verge
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Old 05-29-2013
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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.
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Old 05-29-2013
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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.
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Old 05-29-2013
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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
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Old 05-29-2013
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And the biggest money launderers in the world, the big banks, get away Scott free.
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Old 05-29-2013
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http://www.exchangezone.com/ also

So what happen with all the LR$ that floating around???????
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Old 05-29-2013
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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.
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Old 05-29-2013
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Quote:
Originally Posted by unkown5454 View Post
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
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

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.

...

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Old 05-29-2013
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Damn!t, yes, I apologize. Similar type of businesses confused me.
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Old 05-30-2013
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All good unkown - both are sketch and going down the drain hah. Will be affecting people though so that sucks
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Old 06-02-2013
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i'm lost money here. hix hix.
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Old 06-02-2013
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Quote:
Originally Posted by bioline View Post
i'm lost money here. hix hix.
Sad to hear bioline - hix hix is no good too
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