Costa Rica News – Over the years Costa Rica has become well known for scams based out of the country.
Paragon properties, the sweepstakes scam, and recently Liberty Reserve.
Liberty Reserve was a digital currency company that federal officials allege was being run as a $16 billion money-laundering scheme.
Maxim Chukharev, a Russian citizen and resident of Costa Rica, helped design and maintain Liberty Reserve’s technological infrastructure (IT manager), making it seem like the site had an anti-money-laundering program.
When people received this warm fuzzy feeling they were more likely to use the digital currency.
He pleaded guilty to this and was sentenced to 1 to 3 years in prison.
Here is the funny part. If he had stayed in Costa Rica he most likely would have never seen life behind bars.
If you are a person that plays in the virtual currency market then you might want to stay out of Costa Rica for the time being.