As you all must be knowing that the owner of Liberty Reserve is sent to prison on money laundering charges and other serious financial crime charges that range upto 6 billion dollars of financial fraud as per the reports:

Secret Service busts $6 billion money laundering scheme | Fox News

I am really sad that ordinary individuals like you and me have lost their hard-earned money because of these criminals.

But what I'd like to know is your thoughts on what you feel would be the ramifications of this development. Will we see more cyber criminals and online fraudsters go to jail or will it be business as usual once again.

What do you think?

Truth is God....................

I can't honestly say I didn't see this coming. Articles were surfacing online and newspapers about the US targeting online eCurrency for years now, it was due to happen. For years the US has said it had payment processors under watch, and LR was included in it.

The way LR deteriorated in recent times such as bad support, frequent problems, reducing history logs to only 31 days, asking personal info during registration, random blocking of accounts for no reason (which it never did before), etc. all were suspicious.

Unfortunately SOME people earned honestly and are caught in the mess.

But the US government will NOT consider ANYBODY who used LR to invest in HYIP / Ponzi schemes to be honest.
HYIP = ponzi, which means collective robbery. Those who profit do so by product of criminality.

In the article it says that legit account holders can claim recovery, but since most people used LR for some illegal activity (HYIP, unregulated gambling, etc.) it will be difficult.

They say that LR had 200,000 US members.......Interesting to see how any actually file a claim !

Darkstar2 wrote:
They say that LR had 200,000 US members.......Interesting to see how any actually file a claim !

I read in a blog that for that very reason now Perfect Money is not accepting any new members from USA.
Will some other payment processors do so as well, what do you think?
It is not fare to paint all with the same brush.