Liberty Reserve | South China Morning Post
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  • Jan 26, 2015
  • Updated: 9:09pm

Liberty Reserve

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.

Liberty Reserve tied to Hong Kong, China

An address in Happy Valley cited for Hong Kong firm Extension Asia.

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

Liberty Reserve a money hub for crooks: Feds

Preet Bharara, United States Attorney for the Southern District of New York, describes charges against Costa Rica-based Liberty Reserve, one of the worlds largest digital currency companies. Photo: Reuters

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 accuses cyber exchange of laundering US$6b

Screengrab of the website of Liberty Reserve, which had more than a million users worldwide, including at least 200,000 in the United States, when US prosecutors swooped on it in May 2013. Photo: SCMP

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