Russian Crypto Founder Charged Laundering $530M Into US
Iurii Gugnin, founder of Evita Pay, was arrested in New York for allegedly funneling approximately $530 million from sanctioned Russian banks into the US to help Russians access sensitive American technology. He faces a 22-count indictment, including charges of wire and bank fraud, money laundering, and operating an unlicensed money transmitting business. If convicted, Gugnin could face life imprisonment. The DOJ claims he ran a money laundering scheme from June 2023 to January 2025, processing Tether (USDT) transactions for clients linked to blacklisted banks. Gugnin allegedly misled US banks about Evita's Russian connections and violated Anti-Money Laundering regulations. He reportedly searched online for signs of being under investigation, indicating awareness of his illegal activities. Penalties include up to 30 years for bank fraud and 20 years for wire fraud.
