Costa Rican bank allowed Liberty Reserve to transfer more than $12 million
May 29th, 2013 (InsideCostaRica.com) In a series of two transactions between November and December 2011, Liberty Reserve managed to transfer $12.5 million from a bank account at Banco Credito Agricola de Cartago in Costa Rica to a bank account in Cyprus.
The information was revealed as part of an indictment handed down by U.S. authorities against Arthur Budovsky, the founder of Liberty Reserve, which is accused of operating one of the largest money laundering operations in history. Authorities say the operation was responsible for laundering some $6 billion.
On November 30th, 2011 a transfer of $4 million was made from an account in the name of Liberty Reserve at the Costa Rican bank to an account at Hellenic Banck in Cyprus. On December 5th, a second transfer of $8.5 million was made to the same account.
The account in Cyprus was held under the name “Ediago Holding Limited.”
Budovsky is believed to have obtained Costa Rican citizenship by paying a Costa Rican woman he had never met $600 to marry him.
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Liberty Reserve founder paid to obtain Costa Rica residency through bogus marriage
U.S. accuses Costa Rica – based Liberty Reserve of operating one of largest money laundering operations in history
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