Digital Currency Firm Co-Founder Convicted of Money Laundering
09 May 2016

The Secret Service caught him with an account for “Joe Bogus” from “Completely Made Up City, N.Y.”

The co-founder of Liberty Reserve, the operator of what had been a widely-used digital currency, was sentenced to 20 years in prison on Friday for conspiring to help cyber criminals launder hundreds of millions of dollars using its services.

Arthur Budovsky, 42, was sentenced by U.S. District Judge Denise Cote in Manhattan, who said a substantial punishment was warranted for his role in running a money laundering operation that prosecutors said was of unprecedented scope.

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