The co-founder and owner of a digital-currency business that prosecutors called a "black market bank" was sentenced to 20 years in prison.

Arthur Budovsky, co-founder of Liberty Reserve, faced a life term before pleading guilty just days before a trial, striking a deal in which both his lawyers and the government agreed to cap his sentence at 20 years.

Prosecutors in New York said the company operated as "the financial hub for cyber criminals around the world".

Prosecutors in New York said the company operated as "the financial hub for cyber criminals around the world". Chris Ratcliffe

Bloomberg