American Expatriate Costa Rica

English-language news and information on Costa Rica

  • Home
  • Original Articles
  • News Reports
  • Book Reviews

Naturalized Costa Rican gets 20 years for “mega money laundering”

May 11, 2016 by Staff News Writer

Arthur Budovsky, a Ukrainian-American who later became a Costa Rican citizen, was convicted to 20 years in prison for his leadership in a powerful structure dedicated to laundering hundreds of millions of dollars.

He was arrested in Spain in 2013 and after a long legal battle, he was extradited to E.E.U.U. in 2014, to finally receive his sentence by the Federal Court of Manhanttan last Friday, for basing the operations of the company Liberty Reserve in Costa Rica to commit crimes that allowed the laundering of 250 million dollars, using bitcoins.

According to Preet Bharara, America’s attorney, Budovsky

created a bitcoin empire to facilitate grand scale money laundering for criminals around the globe. Despite all his efforts to escape justice, including basing his operations in Costa Rica, renouncing his American citizenship and assuming the Costa Rican one, Budovsky has now been held accountable for his violations to the laws in the United States”.

Liberty Reserve reached its peak point between 2009 and 2013 with transactions for over $ 300 million dollars a month.

The rest of the accused are Vladimir Kats (sentenced to 5 years in prison), Azzeddine El Amine (sentenced to 3 years), Mark Marmilev and Maxim Chukharev (still waiting for their sentences).

crhoy.com

Related articles:

  1. Costa Rican model convicted for money laundering: “I am calm”
  2. Bar Association addresses money laundering from all fronts
  3. This is the mansion being built by the Panamanian suspected of money laundering
  4. Couple arrested for money laundering and fraud in Tres Rios
  5. Costa Rica will talk about terrorism and money laundering
  6. Naturalized Costa Rican Citizen Not Able to Vote in Upcoming Election

Filed Under: News Reports

SIGN UP FOR AMERICAN EXPATRIATE IN COSTA RICA

It's free, we respect your privacy and you can unsubscribe at any time.

Connect with Social Media

  • Email
  • Facebook
  • RSS
  • Twitter
Follow @expatcostarica

Search Articles and News Reports

Articles by Publication Date

June 2025
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30  
« Apr    

News Summary

U.S. President Orders Navy Task Force to Caribbean to Counter Venezuela Threat

Costa Rica Government Silent on Travel Ban with Just 13 Days Left

News Summary

Legislators approve moratorium for registration of shareholders

President confirms gasoline give away for ethanol pilot project

Chinese company sells low cost smart phones in Costa Rica

Search continues for small plane missing in Drake

Farmers will march to the Ministry of Agriculture

IMN warns of dangerous UV radiation this Friday

Copyright © 2010 to 2025 · Link to Legal Notices and Privacy Policy