US officials: Liberty Reserve founder extradited

AP News
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Posted: Oct 10, 2014 7:38 PM

NEW YORK (AP) — Authorities say a man accused of being behind one of the world's biggest money-laundering businesses has been extradited from Spain to the U.S. to face charges.

Manhattan prosecutors say Arthur Budovsky arrived in New York on Friday. The 40-year-old Costa Rican citizen founded currency transfer and payment processing company Liberty Reserve.

Budovsky was arrested in Spain on May 23 after Manhattan prosecutors obtained an indictment against him and others. He's due in federal court in New York on Tuesday.

U.S. officials accuse Budovsky of using Liberty Reserve as a kind of underworld bank that handled about $6 billion worth of illicit transactions.

Budvosky has said he just created a secure platform for online financial transactions. He's said Liberty Reserve cooperated with international law enforcement bodies.