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Liberty Football Set to Face Appalachian State on Saturday – Video

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Liberty Football Set to Face Appalachian State on Saturday
Following the team #39;s final full practice this week, head football coach Turner Gill met with the media on Thursday to discuss his team #39;s preparation for the Appalachian State game. The contest...

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Liberty Football Set to Face Appalachian State on Saturday - Video

Liberty Reserve Founder Extradited to New York, U.S. Says

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Liberty Reserve founder Arthur Budovsky was extradited to New York from Spain to face federal charges that his company was a black-market bank which masked more than $6 billion of criminal proceeds.

Liberty Reserve, incorporated in Costa Rica, was one of the worlds most widely used digital currency services, according to the U.S. The company was created and structured to help criminals conduct illegal transactions, Manhattan U.S. Attorney Preet Bharara said. Prosecutors shut it down last year.

Budovsky, 40, who was arrested in Spain in May 2013 after being indicted by the U.S., was brought to New York this afternoon, Bharara said. Hes scheduled to be arraigned Oct. 14.

He and six others have been charged in the case. To date, four co-defendants have pleaded guilty and await sentencing. Charges are pending against Liberty Reserve itself and two other men who the U.S. said acted as its operators. Both are Costa Rican citizens, havent been arrested and arent subject to extradition, prosecutors said.

Liberty Reserve had an estimated 1 million users around the world and conducted about 55 million transactions -- almost all of them illegal -- including 200,000 in the U.S., Bharara said. Investigators have found that criminal rings used Liberty Reserve to distribute illicit proceeds from Vietnam, Nigeria, Hong Kong, China and the U.S.

The company helped users launder illegal proceeds from crimes or transfer funds among associates, prosecutors said. Liberty Reserves digital currency was used by people committing identity theft, credit card fraud, computer hacking, child pornography and narcotics trafficking, prosecutors said.

The case is U.S. v. Kats, 13-cr-00368, U.S. District Court, Southern District of New York (Manhattan).

To contact the reporter on this story: Patricia Hurtado in Federal Court in Manhattan at

pathurtado@bloomberg.net

To contact the editors responsible for this story: Michael Hytha at mhytha@bloomberg.net Andrew Dunn, Charles Carter

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Liberty Reserve Founder Extradited to New York, U.S. Says

Founder of digital currency Liberty Reserve extradited to the US

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Authorities have extradited the founder of Liberty Reserve, a virtual currency allegedly used by cybercriminals for money laundering, from Spain to the U.S.

Arthur Budovsky, 40, a citizen of Costa Rica, arrived in the U.S. on Friday, the U.S. Department of Justice said. Budovsky was arrested in Spain in May 2013 after a grand jury in a federal court in New York City indicted him on charges related to money laundering.

Budovsky is scheduled to appear before a judge Saturday, with an arraignment scheduled for next Tuesday, the DOJ said in a press release.

The DOJ has accused Budovsky, a former U.S. resident, of allowing criminals to process illegal payments and to launder billions of dollars in crime proceeds, Assistant Attorney General Leslie Caldwell of the DOJs Criminal Division, said in a statement.

Budovsky founded Liberty Reserve after running a third-party exchange service called Gold Age for the digital currency E-Gold, the DOJ said. Budovksy was convicted in New York state of operating Gold Age as an unlicensed money-transmitting business in the mid-2000s, the agency said.

Budovsky then began creating a new digital currency. He launched Liberty Reserve in Costa Rica in 2006.

Liberty Reserve billed itself as the Internets largest payment processor and money transfer system, and the DOJ alleged that Budovsky structured it in a way that helped users conduct illegal transactions anonymously and launder the proceeds. Budovsky sought out criminals as customers while seeking to evade the reach of U.S. law enforcement, the DOJ alleged.

Before the U.S. government shut it down in May 2013, Liberty Reserve had more than 1 million users, including more than 200,000 users in the U.S., the DOJ said. The service processed about 55 million transactions totalling US$6 billion, the agency said.

Some of the transactions allegedly involved funds obtained through credit card fraud, computer hacking, narcotics trafficking and other crimes, the DOJ said.

Budovsky is among seven individuals charged in the indictment, which was unsealed in May 2013. Four co-defendants have pleaded guilty to charges and await sentencing in the court in New York. Charges are pending against Liberty Reserve and two individual defendants who have not been arrested.

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Founder of digital currency Liberty Reserve extradited to the US

Grand Theft Auto: Liberty City Stories – Part 11.35 The Sicilian Gambit [ENDING!] – Video

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Grand Theft Auto: Liberty City Stories - Part 11.35 The Sicilian Gambit [ENDING!]
Grand Theft Auto: Liberty City Stories on Playstation 2 WALKTHROUGH with commentary The Sicilian Gambit Grand Theft Auto: Liberty City Stories PLAYLIST! http://bit.ly/1wf38qB Grand Theft...

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Grand Theft Auto: Liberty City Stories - Part 11.35 The Sicilian Gambit [ENDING!] - Video

2014 Liberty Football Weekly Press Conference: Appalachian State – Video

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2014 Liberty Football Weekly Press Conference: Appalachian State
Liberty Flames Head Football Coach Turner Gill held his weekly press conference in the Donor Room of the Williams Football Operations Center to preview the Appalachian State game on Tuesday...

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2014 Liberty Football Weekly Press Conference: Appalachian State - Video

Malones Liberty Interactive Discussed Exiting Expedia

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Greg Maffei, chief executive officer of billionaire John Malones Liberty Media Corp. (LMCA), said the company has discussed exiting its stake in Expedia Inc. (EXPE), the online travel service.

Maffei, speaking today at an FBR & Co. conference in New York, also said Liberty Broadband, a Malone-controlled company thats filed to go public, could be merged with Charter Communications Inc., the cable, phone and Internet company.

Liberty has considered a number of ways to exit Expedia, including a distribution to shareholders or an asset swap, he said. In 2007, the company exchanged Time Warner Inc. shares for the Atlanta Braves baseball team, he noted. While Liberty has also considered buying all of Expedia, the companys chairman, Barry Diller, indicated thats not what he wanted, Maffei said.

Liberty Interactive, which offers TV and online shopping services, holds a 56 percent voting stake and 18 percent economic interest in Expedia, according to filings. Diller generally has the right to vote the shares, according to company filings.

The stake in Expedia had a market value of $1.82 billion in Libertys last quarterly report and was carried on its books at $476 million.

Liberty Broadband, which filed for a public offering in July, holds interests in Time Warner Cable and Charter Communications. Malone created the stock to help fund further investments by Charter in the cable industry.

Expedia, based in Bellevue, Washington, fell 1.8 percent to $83.83 at the close in New York. Liberty Interactive retreated 1.9 percent to $28.87, while Charter declined 1.9 percent to $151.35.

To contact the reporter on this story: Christopher Palmeri in Los Angeles at cpalmeri1@bloomberg.net

To contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net Rob Golum, Ben Livesey

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Malones Liberty Interactive Discussed Exiting Expedia


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