Home Technology Liberty Reserve Closed, Owners Get Arrested for Money Laundry

Liberty Reserve Closed, Owners Get Arrested for Money Laundry

Base on local media reports, Arthur Budovsky Belanchuk, the owner of Liberty Reserve website, has been arrested in Spain for charges relating to money laundry. Accordingly, Budovsky was involved in financial crimes for transferring funds made by child pornography websites and drug trafficking.

A lot of threads and discussions have been started in Internet with regard to locking down Liberty Reserve payment system. At this time, many famous and popular websites are using Liberty Reserve as a reliable payment method. Currently a large number of users from different countries have deposited millions of Dollars in their accounts in Liberty Reserve. No information is available about the future of deposited funds.

According to unofficial reports, some $150 million of money is the least cash flow of Liberty Reserve payment system, which has managed to attract customers from all over the world. During the recent years, many hackers have utilized Liberty Reserve for charging their clients and victims anonymously. Unlike other popular payment systems, Liberty Reserve doesn’t track the information of its users. The system also deducts an small amount of money per transaction. Liberty Reserve allows no refunds and has no mechanism for performing a chargeback. The site has security protections to help lessen the likelihood of an unauthorized transaction occurring.

It is worth mentioning that Liberty Reserve (LR) is officially blocked in Iran.

Gholam Rahmani
Gholam Rahmani
Gholam Rahmani, 22, is one of the multilingual writers of Pars Herald. He is fluent in several languages including but not limited to Persian, English, Turkish, Azeri and Arabic. He first joined the group on 2008 but after one year he left Pars Herald. After completion his studies in Turkey he came back to Pars Herald and re-started his career as the Tech writer. He has written articles for Turkey and Azerbaijan based news agencies too. City: Ardabil Phone Number: +989371284596 Email: Gholam {at} ParsHerald.com Name in Persian: غلام رحمانی

Stay Connected


Must Read

How Safe Is A Visit To The Caribbean?

Expats, tourists and business people visiting the Caribbean may well worry about their safety after a seemingly endless series of warnings and alerts over...

How Safe Is A Visit To The Caribbean?

Expats, tourists and business people visiting the Caribbean may well worry about their safety after a seemingly endless series of warnings and alerts over...

Periodic Table Is Elementary For Scientists

Scientists are in their element as they celebrate the 150thanniversary of the periodic table. The table has tortured physics and chemistry students trying to learn...

World’s Top Earning Footballers

As World Cup 2014 approaches in Brazil, the soccer world is talking about who will turn out as the best players of the tournament. Many...

Related News

Pistorious Sentenced for Culpable Homicide of Steenkamp

Paralympian Oscar Pistorious has been sentenced to five years imprisonment by Judge Thokozile Masipa for killing his then girlfriend, Reeva Steenkamp. The Judgement took...

Iranian Government Concerned About Couples Living Together Without Marriage

During the recent one decade, the living models have been changed in Iran dramatically. One of them is about those couples living together without...

3 Apps for the on-the-go Professional

Overcoming one hurdle at a time… Apps were designed to make people’s lives easier. A great app eliminates a problem in a matter of minutes,...

Tiger Woods Departs the World’s Elite

Tiger Woods has lost his place in the top 100 golfers in what marks a hugely significant moment in what has been a 20...

QROPS, Pensions and UK Annuity Firms in Disarray

Hundreds of pension providers in the UK are facing up to the grim reality of an uncertain future post-Budget 2014. With Chancellor of the Exchequer,...


    • hello sir,
      I need your help urgent right now. I having $100 in my LR id. I need to transfer it to my bank account. can you able to help me. please reply me urgent sir.

  1. Hi everyone ,My management developed a method whereby few users will be able to retrieve their funds if less than 100k.

  2. Am sorry for the inconvince issue about the liberty reserve closed by owners getting arrested, but whoever have money in his account with Liberty reserve.

  3. Since I wasnt aware of liberty reserve closing because people want to do dumb shit how do I get my money back I had in my liberty reserve acct.?

  4. Ron
    May 27, 2013 at 19:23
    Hello. I can help you to get your money back for 30-40%. Can help 3-5 people only



Please enter your comment!
Please enter your name here