January 30 2016
The co-founder of the Liberty Reserve digital currency service has pleaded guilty to money laundering conspiracy, days before he was to go on trial accused by US prosecutors of enabling criminals worldwide to launder more than US$6bn.
Arthur Budovsky, 42, admitted he knew Costan Rican-based Liberty Reserve was “susceptible” to be used by criminals, including for Ponzi schemes. He pleaded guilty in Manhattan federal court on Friday.
“I knew what I did was illegal,” Budovsky, in blue jail clothing, told US District Judge Denise Cote.