[2016-05-07] Hindu: Digital currency firm co-founder gets 20-year jail

[polynesia]

Digital currency firm co-founder gets 20-year jail

http://www.thehindu.com/news/international/digital-currency-firm-cofounder-gets-20year-jail/article8569814.ece

The co-founder of Liberty Reserve, the operator of what had been a widely-used digital currency, was sentenced to 20 years in prison on Friday for conspiring to help cyber criminals launder hundreds of millions of dollars using its services.

Arthur Budovsky, 42, was sentenced by U.S. District Judge Denise Cote in Manhattan, who said a substantial punishment was warranted for his role in running a money laundering operation that prosecutors said was of unprecedented scope.

[bitcoinisfurture]

Is it the first case of some one being sent to prison for long 20 years ?

[btvGainer]

Is it the first case of some one being sent to prison for long 20 years ?

Yes I reckon this is the first case where someone related in cryptocurruncy offence has been sentenced for 20 years in prison.Earlier founding
board member of the Bitcoin
Foundation, Charlie Shrem was
sentenced for 2 years in another bitcoin related case.
Russian Finance ministry
Proposes 7 Years in Prison for
Cryptocurrency Use, if this proposal is accepted, we might see more people being put behind bars

[soyab0007]

Isn't 20 years is a long time... even for Rape case its 7 years

[Divinespark]

Conspiracy to money launder is serious, serious shit and gets you a hefty term in the US
Not sure that Charlie Shrem was ever charged with anything as serious

[btvGainer]

Isn't 20 years is a long time... even for Rape case its 7 years

It differs from country to country.Some countries even have capital punishment for rape.7 years imprisonment is as per Indian law in some countries it is upto 15 years of rigorous imprisonment