Epoch Times CFO charged in multi-million dollar crypto laundering plot
Epoch Situations CFO charged in multi-million greenback crypto laundering assign of residing Epoch Situations CFO charged in multi-million greenback crypto laundering assign of residing
Invoice Guan faces decades in penal advanced if convicted for his alleged involvement in laundering $67 million thru advanced networks.
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Weidong “Invoice” Guan, the Chief Monetary Officer of The Epoch Situations, has been arrested and charged with orchestrating a $67 million world cash laundering plot. Federal prosecutors say that Guan, 61, led a advanced operation interesting the usage of digital resources to amass crime proceeds, collectively with fraudulently obtained unemployment benefits, which were then laundered thru varied financial institution and crypto accounts linked to The Epoch Situations and Guan for my piece. The plot reportedly precipitated the media company’s income to surge from roughly $15 million to $62 million between 2019 and 2020. The indictment does no longer list the explicit digital resources allegedly susceptible in the prices.
As stated in the indictment,
“From no longer lower than in or about 2020, thru in or about Would possibly well 2024, GUAN, while working because the Chief Monetary Officer of a multinational media company headquartered in Contemporary York, Contemporary York (the “Media Company”), conspired with others to participate in a sprawling, transnational plot to launder no longer lower than roughly $67 million of illegally obtained funds to financial institution accounts in the names of the Media Company and connected entities.”
Guan, who managed the “Construct Money Online” crew at The Epoch Situations, allegedly susceptible stolen non-public knowledge to initiating accounts and transfer illicit funds. When wondered by banks about the influx of transactions, Guan is accused of lying, claiming the funds were real donations. As US Felony skilled Damian Williams acknowledged,
“When banks raised questions about the funds, Guan allegedly lied repeatedly and falsely claimed that the funds came from real donations to the media company.”
In 2022, he falsely stated in a letter to a congressional assign of work that “donations teach ‘an insignificant piece of the final income’ of the Media Company.”
The Epoch Situations, a conservative media organization linked to the Falun Gong non secular movement, has stated its commitment to cooperating fully with the investigation and has suspended Guan pending the resolution of the matter. The prices against Guan create no longer pertain to the corporate’s journalistic activities.
If convicted, Guan faces a maximum sentence of twenty years for cash laundering and 30 years for every financial institution fraud value. He pleaded no longer responsible and became granted a $3 million non-public recognizance bond with shuttle restrictions confined to substances of Contemporary York and Contemporary Jersey.
Liam 'Akiba' Wright
Additionally identified as "Akiba," Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized expertise has the aptitude to create frequent certain commerce.
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