Liberty Reserve was a digital currency service based in Costa Rica with more than 1 million users when it was shut down after an investigation spanning 17 countries. US prosecutors accused it of helping criminals launder more than US$6 billion (HK$46.6 billion) in illicit funds.
A Hong Kong company, Extension Asia, deposited part of Liberty Reserve's "ill-gotten" funds now demanded by the US authorities at the Hong Kong branch of Bank of Communications, one of China's biggest banks, and a bank in Shenzhen, alleges a US court indictment filed by US prosecutors.Saturday, 1 June, 2013, 4:19am
When an undercover agent posing as a new client sought to register at the currency transfer firm Liberty Reserve as “Joe Bogus” from “123 Fake Main Street” in “Completely Made Up City,” no one at the company based in Costa Rica objected.
The same client recording digital currency transactions as “ATM skimming work” and “for the cocaine”? Still no problem.30 May 2013 - 2:49pm
US prosecutors have filed an indictment against the operators of digital currency exchange Liberty Reserve, accusing the Costa Rica-based company of helping criminals around the world launder more than US$6 billion (HK$46.6 billion) in illicit funds linked to everything from child pornography to software for hacking into banks.29 May 2013 - 5:08pm