Liberty Reserve Manager Pleads Guilty to Conspiracy

A manager of Liberty Reserve SA, described by the U.S. as a “black-market bank” that masked more than $6 billion in criminal proceeds, pleaded guilty to conspiracy and operating an illegal money remitting business.

Azzeddine El Amine, 47, of Costa Rica, a principal deputy to the company’s founders, entered his plea today before U.S. District Judge Denise Cote in Manhattan. The judge said El Amine is cooperating with the U.S., which she will take into consideration when she sentences him. He faces a maximum of 30 years in prison, Cote said.