LR’s website went offline sometime on Thursday or Friday.
The owner, Arthur Budovsky, is being held by the authorities in Spain. Costa Rican and US authorities also are involved in the investigation.
The status of client funds inside of LR accounts is not fully known at this time.
This is pretty, bad news. I’m surprised this post only has a handful of views. Did you know that Arthur Budovsky was sentenced in 2007 to five years’ probation after pleading guilty in a New York court to charges he operated an illegal financial services business similar to Liberty Reserve? That’s scaaaarrrryyyy!!!
Well I shared this news just few mints ago that why it has low views, I hope that every LR users get funds back soon.
I used LR to fund an account with hotforex, I did not get my withdrawal on friday, i was worried because of LR news, but yesterday hotforex send money to MB account after i talk with chat. thank you hotforex, best broker.
It was always quite a dodgy money provider.
NEW UPDATE :
The Liberty Reserve digital money service that was shut down laundered more than $6bn (£4bn) in criminal cash, US authorities have said.
Weekend police raids in 17 countries scooped up Liberty Reserve’s owners, operators and its computer hardware.
The Department of Justice said it was the “largest international money-laundering prosecution in history”.
I had this feeling from the beginning.
Was lucky never to use LR.
I am glad they shut it down. I lost some money there. It was a fraud
[QUOTE=“KaterinaEK;495810”]I am glad they shut it down. I lost some money there. It was a fraud[/QUOTE]
Why were you trying to launder money…?
Please could you tell the full meaning of MB? Please.
i think he was referring to MoneBookers, its another online money processor, just like paypal and webmoney.
What do you guys think, will it be possible to get the funds out of LR?
Sad but true fact that the liberty reserve has been shut and i really feel sad for people who have lost huge money in their LR account. Now i chose the other alternative as webmoney.
Been wondering that myself. Usually when a financial entity is shut down, the authorities make an attempt to provide customers back their funds. But in this case, the Feds are demonizing the entire business. Of course, money laundering and other such criminal activity must be prosecuted. But they’ve really turned the hype factor up several notches on this one.
[B]One official was quoted as saying, "Liberty Reserve is as far as we can tell wholly criminal.”[/B] (see article below).
Will LR users eventually receive their money back? Perhaps after this thing gets to a trial, and the truth starts to come out that there were in fact numerous legitimate users of LR, many of which are FOREX traders, binary options traders, etc, we may see some type of offer to provide customers their funds back.
Yeah, liberty set up a lot of their clients. Fortunately i invested money with liteforex , and they gonna give me back 100% of it. I lost money in other company , and they wont pay me back=(((((( , but the lite has a nice bonus programm, CHOICE so i can get my money back with it.
For sure not anytime soon, maybe in the far future