Liberty Reserve Employee Pleads Guilty in Bank Scheme

The former chief technology officer of Liberty Reserve SA, described by the U.S. as a “black-market bank” that masked more than $6 billion in criminal proceeds, became the third person to plead guilty to helping run an illegal money remitting business.

Mark Marmilev, 35, of Brooklyn, New York, who helped design and maintain the operation’s technological infrastructure, faces a maximum five-year prison term when he’s sentenced by U.S. District Judge Denise Cote in Manhattan on Jan. 20.