[quote]"The operators of a global currency exchange ran a $6 billion money-laundering operation online, a central hub for criminals trafficking in everything from stolen [B]identities to child pornography, federal prosecutors[/B] in New York said on Tuesday."[/quote]
[quote]"The charges announced at a news conference by Preet Bharara, the United States attorney in Manhattan, and other law enforcement officials, mark what officials said was believed to be the [B]largest[/B] online money-laundering case in history. Over seven years, Liberty Reserve was responsible for laundering billions of dollars, conducting 55 million transactions that involved [B]millions of customers around the world[/B], including about 200,000 in the United States, according to prosecutors."[/quote]
[url]http://www.nytimes.com/2013/05/29/nyregion/liberty-reserve-operators-accused-of-money-laundering.html?pagewanted=all&_r=0[/url]
guess turing isn't getting his cash back, sorry bud
why would you keep anything remotely valuable in a shady online currency exchange whose primary purpose is to serve a currency that is mostly used for drugs and money laundering
[QUOTE=Lazor;40821178]why would you keep anything remotely valuable in a shady online currency exchange whose primary purpose is to serve a currency that is mostly used for drugs and money laundering[/QUOTE]
because it can be very lucrative. it's a high risk investment but you can potentially get great returns.
[editline]29th May 2013[/editline]
if you put all your money in it, though, it's just stupid.
"don't put your eggs all in one basket"
[QUOTE=Lazor;40821178]why would you keep anything remotely valuable in a shady online currency exchange whose primary purpose is to serve a currency that is mostly used for drugs and money laundering[/QUOTE]
because you want to buy drugs or launder money
I bet bitcointalk is currently flipping out over this
This slightly confused me. Isn't Paypal more or less the same idea (allows one to electronically move currency)? Why is Paypal still around and liberty reserve not?
[QUOTE=Rob Markia;40822556]This slightly confused me. Isn't Paypal more or less the same idea (allows one to electronically move currency)? Why is Paypal still around and liberty reserve not?[/QUOTE]
Because paypal doesn't launder money.
[IMG]http://img28.imageshack.us/img28/5467/stossel1.png[/IMG]
The government is taking our liberties away.. by stopping a service that dealt in terrorism, organized crime and child pornography.
[QUOTE=Sobotnik;40822603]Because paypal doesn't launder money.[/QUOTE]
No, they just freeze lucrative accounts in order to make money off them.
[QUOTE=RayvenQ;40822832]No, they just freeze lucrative accounts in order to make money off them.[/QUOTE]
Yeah, how does this not qualify as laundering in its own right?
[QUOTE=Sobotnik;40822603]Because paypal doesn't launder money.[/QUOTE]
No, but if you make more than five thousand dollars they'll freeze half your money [I]and get away with it every single time.[/I]
[QUOTE=Reds;40822955]No, but if you make more than five thousand dollars they'll freeze half your money [I]and get away with it every single time.[/I][/QUOTE]
Except that's (probably) legal.
My lawyer Shekel Goldbergstein will take over to address any complaints you may have.
[QUOTE=Sobotnik;40822989]Except that's (probably) legal.
My lawyer Shekel Goldbergstein will take over to address any complaints you may have.[/QUOTE]
you'll never take me alive
I know it must be technically legal, but I long for the day when Google Wallet takes off.
[QUOTE=Rob Markia;40822896]Yeah, how does this not qualify as laundering in its own right?[/QUOTE]
Because it's not laundering, it's just really fucking shady. Although ou could argue that they are making money off stolen (frozen) funds, but you pretty much have to agree to let them do it to use the site.
Sorry, you need to Log In to post a reply to this thread.
