Federal prosecutors have now charged seven people with running what could turn out to be the largest money-laundering operation in U.S. history. The case revolves around an online payment company called Liberty Reserve. Investigators say, it laundered $6 billion for criminals around the world, including drug dealers, credit card fraudsters, and child pornographers.
The size of the operation has been described as “staggering.” This one online network is thought to have processed over 55 million illegal transactions for 1 million users, including at least 200,000 in the U.S.
How does one launder $6 billion?
Jeffrey Robinson is the author of “The Laundrymen” and is known as one of the world’s leading experts on international financial crime.