| The accused mastermind of a $6 billion digital currency system allegedly used as an underworld bank for hackers, identity thieves and drug dealers was held without bail Tuesday in federal court in Manhattan following his weekend extradition from Spain.
Arthur Budovsky, 40, the founder of Liberty Reserve, had been awaiting extradition since prosecutors charged in May 2013 that the company's virtual currency helped cyber criminals, child pornographers and fraudsters anonymously launder their proceeds. Budovsky, who renounced his U.S. citizenship and operated out of Costa Rica in an attempt to avoid U.S. money laundering laws, pleaded not guilty in a brief hearing before U.S. District Judge Denise Cote. He faces up to 30 years in prison...............................................Full Article: Source
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