Online underworld bank Founder jailed for 20 yrs
Arthur Budovsky, the Founder of an online underworld bank called 'Liberty Reserve', was sentenced to 20 years in prison for allegedly laundering billions of dollars for criminals. Arthur, who had earlier pleaded guilty to committing money laundering, was ordered to pay a $500,000 fine. The online system had processed over 78 million financial transactions that combined to over $8 billion.