Liberty Reserve

domcastro

Hi,
I had a Liberty Reserve account with $160 in it. The company has been shut down by the US government for money laundering. However, I can prove where the money came from. Does anyone know how I go about to try and get my money back. I've searched Google and it's just news stories about criminals. I didn't know it was a criminal organisation - I had the choice of going to a money transfer shop or setting up a Liberty Reserve account - just thought it was all legit (I have family in Canada) - I chose Liberty Reserve as I didn't have to leave my house and now my laziness has lost me money! Any ideas what my next step should be?

grumbler

I think it's too early to ask, but if US authorities just seize all clients' money this will be a daylight robbery.

innovate

I think reality is that you will have to wait for a very long time to get even parts of your money back. Even if you weren't one of the fraudsters using Liberty Reserve, you'll be caught up in the ongoing investigation. You should establish how, if at all, you might be able to register a claim on your deposits.

I am afraid to say, I don't agree with grumbler on this occasion. It's not daylight robbery, it is an emergency to stop some serious crime, such as drugs dealing. Liberty Reserve was clearly used by criminals (anybody saw tonight's CH4 19:00 news?), and someone claiming the loss of $160 will be just washed over by the tide that is quite desperately needed to deal with the money laundering.

It should be a lesson to anyone out there who thinks they can't be caught out in some way if they choose to put their money into organisations that aren't regulated by their home financial authority (in the case of the UK, the FCA).

donkingkong

You'll get your USD160 back once Megaupload users get access to their data again. Which will be never is the US have their way.